Middle East conflict cuts TotalEnergies output by 15% as oil prices surge

TotalEnergies has reported a 15 per cent drop in production following disruptions caused by the ongoing conflict in the Middle East, raising fresh concerns over global oil and gas supply.

The company said the crisis has forced the shutdown, or preparations for shutdown, of offshore operations in Qatar, Iraq and the United Arab Emirates, impacting a significant share of its global output.

The disruption comes as crude oil prices climb above $100 per barrel, underscoring the growing impact of regional instability on energy markets.

Despite the setbacks, the company noted that production from its onshore assets in the UAE—estimated at about 210,000 barrels per day—remains unaffected.

TotalEnergies, however, said rising oil prices could cushion the financial impact of the disruption, noting that “an $8-per-barrel increase in Brent crude prices would be sufficient to offset the expected 2026 cash flow contribution” from the affected assets.

It added that operations at the SATORP refinery in Saudi Arabia are continuing without disruption and are supplying the domestic market.

The firm also disclosed that the shutdown of some LNG production in Qatar is expected to have a limited effect on its global trading portfolio, with around two million tonnes of LNG potentially affected in 2026.

TotalEnergies said it is closely monitoring developments and will provide updates as the situation evolves.