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Oil Heads Towards $150 as Gulf Supplies Decline

March 11, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
Oil Heads Towards $150 as Gulf Supplies Decline

Research and consulting firm Wood Mackenzie predicts that oil prices will rise to around $150 per barrel in the coming weeks due to a decline in oil and petroleum product supplies from the Gulf region by about 15 million barrels per day amid the war in Iran. The company explained that Gulf countries produce a total of about 20 million barrels per day of oil liquids, but the global market has lost about 15 million barrels per day of exports, putting significant pressure on a market where global demand is around 105 million barrels per day. Read the full content on Echourouk Online.

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