Middle East Oil-Output Cuts Deepen as Ships Stay Clear of Hormuz

Oil production cuts in the Middle East are deepening as the crucial Strait of Hormuz waterway remains at a near-standstill, widening the chaos in energy markets.

By Salma El Wardany, Fiona MacDonald · Bloomberg Markets

Oil production cuts in the Middle East are deepening as the crucial Strait of Hormuz waterway remains at a near-standstill, widening the chaos in energy markets.