Houthi attacks make Saudi economy crash? 36-year-low hits MBS as 'Mecca pact' fails

Saudi Arabia’s oil production plunged by 1.9 million barrels per day in August to 6.238 million bpd, reportedly the lowest level since 1990, according to Bloomberg. Disruptions around the Strait of Hormuz and Bab al-Mandeb sharply hit Saudi crude exports, while Riyadh reportedly tapped stored crude to maintain supplies as Brent crude surged above $107 a barrel.