ChainCatcher reported that Saudi Arabia told OPEC its crude oil production in August fell to the lowest level since 1990. Daily output dropped by 1.9 million barrels to 6.238 million barrels a day, according to the report.
The dispatch also said renewed hostilities between the United States and Iran squeezed Saudi export routes. As a result, the kingdom’s crude exports fell by about one-third to roughly 3 million barrels a day.
The item was published as a 7x24 news brief and did not provide additional details beyond the production and export figures cited in the report.
ChainCatcher reported that Saudi Arabia told the Organization of the Petroleum Exporting Countries, or OPEC, that its crude oil production in August fell to the lowest level since 1990, with daily output down by 1.9 million barrels to 6.238 million barrels a day.
The report said renewed hostilities between the United States and Iran squeezed Saudi Arabia’s export routes, leading crude exports to fall by about one-third to roughly 3 million barrels a day.
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