Saudi Oil Supply Crashes to Three-Decade Low Amid Houthi Attacks
Saudi Arabia's crude supply plummeted to its lowest level in over three decades in August due to attacks on Saudi energy facilities, according to the International Energy Agency (IEA). The IEA reported that Saudi Arabia's crude supply fell by 2.3 million barrels per day to 6 million bpd in August.
The drop follows a series of targeted attacks by groups linked to Yemen's Houthis and Iran-backed militias in Iraq on Saudi energy facilities, including the Bab el-Mandeb, Saudi Arabia's Jazan refinery and shipping near Yanbu. The IEA stated that these attacks significantly impacted Saudi supply in August.
The IEA's assessment of Saudi supply is lower than Saudi Arabia's own reported figures, which informed the Organization of the Petroleum Exporting Countries (OPEC) that it supplied 7.122 million bpd and produced 6.238 million bpd last month. The IEA noted that its forecast for Saudi Arabia's crude supply in 2026 has been revised down by 885,000 bpd to 7.6 million bpd, citing a delayed recovery for Middle East Gulf production.