Saudi Arabia Reports Another Sharp Oil Output Decline to Lowest Level Since 1990
Deep News
Yesterday
Saudi Arabia has informed OPEC that its crude oil production experienced yet another significant drop last month, reaching the lowest level not seen since 1990. This decline is attributed to renewed hostilities between the United States and Iran, which have constrained the kingdom's export routes.
According to OPEC's latest monthly report, Riyadh communicated to the OPEC Secretariat that its daily crude output plummeted by 1.9 million barrels, settling at 6.238 million barrels per day. This figure falls below the previous low recorded during the April conflict, which had already marked the lowest production reported by Saudi Arabia since the onset of the Gulf War.
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