### 📈 Gulf Oil Revenues Plummet by US$ 15.1 Bn Amid Strait Closure

The escalation of conflict in the Middle East has severely disrupted global energy flows, with Arab Gulf producers losing an estimated US$ 15.1 Bn in oil and gas revenues since March 1, 2026. • Overall Impact: The de facto closure of the Strait of Hormuz has choked off roughly US$ 1.2 Bn in daily revenue. This represents a loss of 10 million barrels per day (bpd)—approximately 10% of global daily oil production. • Energy Supply Disruptions: • LNG: 20% of global supply is currently trapped. Qatar has halted production at Ras Laffan, the world's largest liquefaction complex, issuing force majeure notices. • Crude Oil: Saudi Arabia’s Aramco, which previously exported 6 million bpd via the Strait, faces the highest total revenue loss. • Infrastructure Constraints: Alternative routes, such as Saudi Arabia's East-West pipeline to the Red Sea, are insufficient. While the pipeline has a 7 million bpd theoretical capacity, terminal loading limits at Yanbu are estimated at only 3 million bpd. • Economic Vulnerability: While Kuwait and the UAE possess significant sovereign wealth buffers, Iraq is identified as the most fiscally vulnerable due to its heavy reliance on immediate oil receipts. • Regional Outlook: Beyond the Strait, expanding attacks on export infrastructure in Oman and Fujairah suggest further supply contractions are likely as storage reaches maximum capacity.