Saudi Oil Plummets Amid Geopolitical Strikes | US News

Saudi Arabia’s oil output plunged 2.3 million barrels per day last month, the steepest drop in over three decades—blamed by the IEA on Houthi and Iran-backed drone attacks crippling key infrastructure. Discrepancies between Saudi reports and IEA data are narrowing, with supply figures aligning closely. The IEA has slashed its 2026 forecast for Saudi crude by nearly 900,000 barrels daily, citing slower Middle East recovery. With loadings down and inventories falling, global markets brace for fallout from this escalating geopolitical energy crisis.

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