Aramco Slashes Output Amid Hormuz Tensions

Aramco, the Saudi oil giant, is reducing output at two oilfields due to the disrupted Strait of Hormuz, amidst ongoing U.S.-Israeli conflicts with Iran. Aramco is redirecting oil to the Red Sea's Yanbu port. Regional neighbors also face attacks and have decreased production.

Saudi state oil company, Aramco, has reportedly begun reducing operations at two of its critical oilfields. This move follows the blockade of the Strait of Hormuz arising from the ongoing U.S.-Israeli war impacting Iran.

The specifics regarding which oilfields are affected and the extent of decreased output remain unclear, according to unnamed sources. Aramco has started transporting some oil via the Red Sea port of Yanbu, though the company remains tight-lipped about the situation.

The heightened conflict has also prompted other oil-producing countries in the region to curtail their oil production amid rising security concerns.

(With inputs from agencies.)