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Saudi Arabia’s oil output drops 42% to lowest level since 1990 as Iran war chokes Gulf exports
May 14, 2026
< 1 min read
by Opeyemi Olanrewaju
for CryptoPolitan
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AI Overview
Saudi Arabia told OPEC that April crude production fell to 6.316 million barrels per day, the lowest monthly output since the 1990 Gulf War, as conflict with Iran blocks Persian Gulf shipments. The sudden supply shock raises macro risk and likely increases market volatility that could spill into crypto markets, pressuring CEX liquidity, DeFi activity and broader crypto adoption.
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Saudi Arabia has told the world petroleum body OPEC that its crude oil production in April fell to just 6.316 million barrels per day, the lowest monthly number since the 1990 Gulf War, as the war involving Iran rages on and continues to block oil shipments through the Persian Gulf. The sovereign kingdom’s crude oil...
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