Exclusive: UAE crude output falls by more than half as Hormuz closure forces shut-ins

The United Arab Emirates' daily oil output is down by more than ‌half as the Iran conflict and the effective closure of the Strait of Hormuz forced state oil giant ADNOC to implement widespread production shut-ins, two sources told Reuters.
The halt of commercial navigation through ​the critical maritime chokepoint, which is normally used to transport about a fifth ​of the world's oil supply, has inflicted massive disruptions on global energy ⁠markets.