Saudis Tell OPEC That Output Slumped Again to Lowest Since 1990
Saudi Arabia reported to OPEC that oil output fell to 6.24 million barrels per day in August, the lowest level in three decades. Production dropped from over 10 million barrels per day prior to the start of the war with Iran. This slump results from the closure of shipping routes and disruptions to vital export paths caused by the US-Iran war and Houthi threats in the Red Sea. A Reuters survey confirms that overall OPEC oil output also declined during August.
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- β Saudi Arabia's oil production fell to its lowest level since 1990.
- β The kingdom pumped 6.24 million barrels a day in August.
- β Production was above 10 million barrels a day before the Iran war began.
- β Houthi threats and the war with Iran disrupted vital export routes and shipping.
What changed
Saudi Arabia provided specific production figures to OPEC showing August output dropped to 6.24 million barrels per day.
Live updates
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Saudi Oil Production Hits Lowest Level Since 1990
Saudi Arabia reported to OPEC that oil output fell to 6.24 million barrels per day in August, the lowest level in three decades. Production dropped from over 10 million barrels per day prior to the start of the war with Iran. This slump results from the closure of shipping routes and disruptions to vital export paths caused by the US-Iran war and Houthi threats in the Red Sea. A Reuters survey confirms that overall OPEC oil output also declined during August.
Why it matters
Saudi Arabia is a primary driver of global oil supply and OPEC policy. The current production crash threatens global energy stability as war disrupts the movement of crude. The conflict involves both state actors and regional militias targeting maritime logistics.
What is confirmed
- Saudi Arabia's oil production fell to its lowest level since 1990.
- The kingdom pumped 6.24 million barrels a day in August.
- Production was above 10 million barrels a day before the Iran war began.
- Houthi threats and the war with Iran disrupted vital export routes and shipping.
- OPEC oil output fell in August according to a Reuters survey.
What to watch next
- Updates on Red Sea shipping route security
- Official OPEC response to the Saudi production slump
- Further data on global crude price reactions to the August output drop
confidence 100%Sources used for this update (8)
- The New York Times β Saudi Oil Exports Plunge as Spread of War Shuts Off Shipping Routes
- Bloomberg.com β Saudis Tell OPEC That Output Slumped Again to Lowest Since 1990
- wsj.com β Saudi Oil Output Slumps as Iran War, Houthi Threats Disrupt Vital Export Routes
- Financial Times β Saudi Arabia cuts oil output to lowest this year on Houthi threats
- reuters.com β OPEC oil output falls in August, Reuters survey shows
- wsj.com β Saudi Arabiaβs Oil Production Falls to the Lowest Level in Three Decades
- finance.yahoo.com β Saudi Arabia oil production falls to lowest level since 1990
- en.yenisafak.com β Saudi oil output sinks to 1990 low amid US-Iran war fallout
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