Middle East output plunges 12M boe/day, could drop 70% from pre-war level, Rystad says

The Middle East's oil and gas production has seen a significant decline, with output dropping by 12 million barrels of oil equivalent per day (boe/day). According to Rystad Energy, this figure could represent a 70% decrease from pre-conflict levels. The full implications of this reduction on global energy markets are still being assessed.