Saudi Oil Output Hits Lowest Level This Year Amid Houthi Threats

Saudi Arabia has reduced its oil output to its lowest level this year due to threats from Houthi forces in Yemen. The kingdom's production has been steadily declining since January, with May's output being the lowest at 8.77 million barrels per day.

This marks a significant drop from last October's peak of 11.6 million barrels per day, according to data from the Joint Organizations Data Initiative (JODI).

The reduction is attributed to Houthi attacks on Saudi oil facilities and infrastructure, which have disrupted production and forced the kingdom to take measures to ensure its safety.