Iran Conflict — 2026-03-18

Both Sides Ratchet Up Attacks on Energy Facilities as Gulf Oil Production Drops 10M Barrels/Day

Strikes on Saudi Ras Tanura, Qatari Ras Laffan, and UAE Ruwais have slashed Gulf oil production by 10M bbl/day versus March 2025. Asian governments are in energy triage; the Philippines imposed a four-day government workweek to conserve fuel. Multiple Asian states face potential oil depletion within 30 days at current consumption rates.

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