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Commodities

Saudi Oil Output Hits Lowest Level Since 1990 Amid Iran Conflict

Guavy AI Editorial Team
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Oil
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Saudi Arabia's crude oil production plummeted to its lowest level since 1990 in August, according to data reported to OPEC and cited by Bloomberg.

The kingdom's output fell by a significant 1.9 million barrels per day to 6.238 million barrels per day, surpassing the previous low reached in April.

This decline is attributed to renewed hostilities between the US and Iran, disrupting export routes from the region.

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