Saudi Arabia's Oil Production Plunges to 1990 Low, Driving Brent Crude Above $100 Amid Middle East Tensions

Saudi Arabia reported a significant drop in crude production by 1.9 million barrels per day in August, reaching 6.238 million barrels per day, its lowest level since 1990. This decline, combined with escalating hostilities between the United States and Iran, has pushed Brent crude oil prices above $100 per barrel on September 10, 2026.