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Market Impact: 0.75
Saudis Tell OPEC That Output Slumped Again to Lowest Since 1990
Source: Bloomberg
Energy Markets & PricesGeopolitics & WarCommodities & Raw Materials
Saudi Arabia reported to OPEC that crude production fell again last month to its lowest level since 1990. Renewed US-Iran hostilities have squeezed the kingdom's export routes, creating a significant supply-risk event for global oil markets and likely supporting crude prices.
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