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Saudi Arabia reported that its crude oil production fell to 6.238 million barrels per day in August, the lowest monthly level since 1990, according to the Organization of the Petroleum Exporting Countries (OPEC) September monthly oil market report.
The August figure represents a decline of almost 1.9 million barrels per day from the 8.135 million barrels per day reported for July.
OPEC attributed the drop to renewed fighting involving the United States and Iran, which disrupted export routes and affected the kingdom’s production capacity.
The report was released by Arabian Post staff based in Dubai.
The article appeared first on Arabian Post.
Article source: thearabianpost.com | Image credit: Al-Monitor
