Commodities
Saudi Arabia's Oil Exports Plummet Amid Gulf War Tensions
OPEC's crude production plummeted to its lowest level since 1990 in August 2026, falling by 1.9 million barrels per day to 6.238 million b/d.
The drop was attributed to renewed U.S., Iran hostilities that squeezed Saudi Arabia's export routes.
Brent traded around $107-108 per barrel on September 10, with sharp intraday gains as Red Sea news hit.
OPEC production has been a story of logistics and security since the 2026 Iran war.