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International Business Times
International Business Times
Business
Demian Bio

Saudi Arabia's Oil Production Drops Over 40% To Lowest Level In More Than Three Decades: Report

Oil OPEC Saudi Arabia
Saudi crown prince Mohammed Bin Salman (Credit: AFP)

Saudi Arabia informed OPEC that its production of oil dropped more than 40% to its lowest level since 1990, according to a new report.

Bloomberg detailed that the cartel's monthly report showed that Saudi production fell by more than 650,000 barrels per day, clocking in at 6.316 million barrels per day. It is the lowest figure since the Gulf War in 1990 after Iraq's invasion of Kuwait.

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