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Saudi Arabia oil production hits lowest level since 1990
Saudi Arabia's crude oil production fell to 6.238 million barrels per day in August, its lowest level since 1990. This decline, a reduction of 1.9 million barrels per day from July, is attributed to regional instability and the disruption of major shipping routes due to the conflict between the United States and Iran. The Strait of Hormuz has faced severe restrictions, forcing a greater reliance on Red Sea routes, which are currently under threat from Houthi rebels in Yemen. The Houthis have implemented a maritime embargo on Saudi ports and recently seized control of the strategic port city of Mocha, tightening their grip on the Bab al-Mandeb Strait.
Concurrently, Venezuela's oil production remained relatively stable in August, averaging 1,201,000 barrels per day. While this represents only a marginal increase of 1,000 barrels per day compared to July, Venezuela has seen significant growth in 2026 due to increased foreign investment and relaxed U.S. sanctions. Notably, Venezuela has exported over 107 million barrels of oil to the United States so far in 2026. North American Blue Energy Partners (Nabep), a company backed by the U.S. government, has announced plans to increase its production to 500,000 barrels per day by the end of 2028.
Entities
Houthi militia · Houthi rebels · Houthis · Iran · North American Blue Energy Partners · OPEC · Saudi Arabia · Saudi Aramco · United States · Venezuela
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Venezuela's oil production in August was only 1,000 barrels per day higher than in July. noticiasaldiayalahora.co · mundour.com
- [● 3 SOURCES] A deal exists between Venezuela and North American Blue Energy Partners where the US government has a 35% stake. noticiasaldiayalahora.co
- [● 7 SOURCES] The decline in Saudi production is linked to disruptions in shipping routes caused by conflict between the US and Iran. bpmoney.com.br · www.al-monitor.com · www.capital.gr · timesofmiddleeast.com · www.rt.com · +1 more
- [● 6 SOURCES] Saudi production levels in August are the lowest reported by the kingdom since 1990. bpmoney.com.br · www.al-monitor.com · www.capital.gr · www.rt.com · www.armstrongeconomics.com
- [● 6 SOURCES] Saudi Arabia reported to OPEC that its oil production fell to 6.238 million barrels per day in August. bpmoney.com.br · www.al-monitor.com · www.capital.gr · www.rt.com · www.armstrongeconomics.com
- [● 8 SOURCES] Saudi crude exports in August reached approximately 3 million to 3.2 million barrels per day. valor.globo.com · bpmoney.com.br · www.al-monitor.com · www.rt.com · thecurrent.pk · +2 more
- [● 5 SOURCES] Houthi rebels in Yemen have threatened or implemented maritime blockades affecting Saudi oil shipments. valor.globo.com · www.al-monitor.com · www.rt.com · thecurrent.pk · www.armstrongeconomics.com
- [DISPUTED] Venezuela's oil production averaged 1,201,000 barrels per day in August. noticiasaldiayalahora.co · finanzasdigital.com · mundour.com
- [○ 1 SOURCE] Venezuela has exported over 107 million barrels of oil to the United States in 2026. nuevodia.com.ve
- [DISPUTED] Venezuela's oil production was reported at 1,145,000 barrels per day in August by primary sources. noticiasaldiayalahora.co · finanzasdigital.com
- [○ 1 SOURCE] North American Blue Energy Partners (Nabep) aims to reach 500,000 barrels per day by the end of 2028. www.moncloa.com