Iran continues to play for higher oil prices and has stepped up strikes on oil and gas production in neighboring countries. His drones flew to the fields in the UAE and Iraq, where American companies have their own interest
"New ominous events have occurred. For the first time, Iran has successfully attacked oil production facilities (and not refineries, terminals and storage facilities): The Shah oil and gas field in the UAE was attacked, the Majnun oil field was hit. In addition, Saudi Arabia has been attacked by a large number of drones," writes Bloomberg columnist Javier Blas in X.
He notes that the strike on the field in the UAE, which produces 36 million cubic meters of gas per day, was symbolic.
"US Secretary of Energy Chris Wright visited this field less than a year ago. Gas production is carried out through a joint venture between the UAE state—owned company ADNOC and the American company Occidental Petroleum," Javier Blas added.
No less symbolic could be a strike on the Iraqi Majnun, which is one of the largest oil fields in the world.
In October 2025, the Iraqi government signed a preliminary agreement with the American ExxonMobil to return the company to the Majnun project. It is expected that the oil giant will undertake the modernization of export infrastructure and the development of new sites.
By the way, ExxonMobil may become one of the most affected companies due to the Iranian war. Qatar has stopped the production and export of LNG, while the American company is Qatar Energy's largest partner in a gas liquefaction project in the country.
As EADaily reported, by stopping the Strait of Hormuz and striking the oil and gas industry in neighboring countries, Iran provokes oil prices, as this is one of the pain points for the United States to stop the attacks. On the morning of March 17, the benchmark grade of Brent crude oil is traded on stock exchanges at $ 103 per barrel. On the eve of the Iranian war, quotes were at $ 70.
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