FX.co ★ Saudi Arabia Oil Production Lowest Since 1990

Saudi Arabia’s crude oil production dropped by 1.9 million barrels per day to 6.238 million barrels per day in August 2026, marking its lowest level since 1990 as tensions between the US and Iran escalated. Despite this sharp decline, Saudi Arabia’s oil supply to the market reached 7.122 million barrels per day in August, surpassing its production. This discrepancy indicates that the kingdom likely drew on its inventories to sustain market supply amid ongoing disruptions.