Producers face storage crunch as Hormuz shutdown traps Middle East crude
March 4, 2026
(World Oil) – Oil producers across the Middle East face a tense countdown as the Iran war blocks the region’s main export artery, filling the countries’ storage tanks and threatening output cuts if the situation persists. With shipping through the Strait of Hormuz suspended, Persian Gulf countries are having to stockpile the stranded supplies in storage tanks. Iraq — which has limited
