In August, Saudi Arabia saw a sharp decline in oil production, reaching its lowest level since 1990. This drop comes amid rising tensions between the United States and Iran, which are putting pressure on Saudi oil export routes.
Oil prices climb
The report submitted by Saudi Arabia to OPEC triggered a further rise in oil prices. Brent crude rose by 3.5% to $104.8 per barrel, nearing the $105 mark.
Meanwhile, U.S. WTI crude increased by 3.75% to $99.65 per barrel, approaching the $100 level.
Source: ANSA
