Saudi crude oil production plunged in August to lowest since 1990
Saudi Arabia reported to OPEC that its crude oil production plunged in August to the lowest since 1990. The company attributed the drop to renewed U.S.-Iran hostilities and threats against shipping by Iran-backed Houthi rebels in Yemen affecting Saudi export routes.
Saudi Arabia told OPEC on Thursday that its crude oil production fell sharply in August to the lowest level since 1990. -Iran hostilities and threats against shipping by Iran-backed Houthi rebels in Yemen constrained Saudi export routes. The kingdom’s output was reported to have tumbled by…