Saudi oil output hits 1990 low after 1.9 mbd drop
Business
Saudi Arabia's oil output in August 2026 dropped to just 6.238 million barrels a day, the lowest it's been since 1990.
The sharp decline came after renewed U.S.-Iran tensions disrupted export routes, pushing production down by 1.9 million barrels a day (mbd) from July.
It's even lower than the kingdom's previous wartime low, showing how ongoing regional conflicts are hitting West Asia's energy scene.
Saudi crude exports fall 1-third
Saudi crude exports fell about one-third to around 3 million barrels a day last month.
To keep the market steady, Saudi Arabia may have drawn down some inventories and supplied 7.122 million barrels daily.
All this highlights how vulnerable the country's energy sector is when geopolitics get messy, even for OPEC's top player.