Saudi Oil Exports Plummet to Lowest Level Since Gulf War

Saudi Arabia's oil exports have hit their lowest level since 1990 due to renewed hostilities between the US and Iran, which has squeezed the kingdom's export routes.

The country reported to OPEC that its crude oil production plummeted by 1.9 million barrels a day (mbd) to 6.238 mbd in August, according to the organisation's monthly report.

This is an even lower level than the previous wartime nadir reached in April, which was the lowest figure reported by the kingdom since the beginning of the Gulf War.

The production slump is a setback for the OPEC leader after several months of recovery and illustrates the fallout of the prolonged Iran conflict on West Asia energy producers.