Saudi Arabia Records Lowest Crude Oil Exports and Production

Saudi Arabia's crude oil exports fell for the second consecutive month in April 2026, reaching an unprecedented low. This decline is attributed to regional tensions and the closure of the Strait of Hormuz. Exports were 3.99 million barrels per day (bpd) in April 2026, down from 4.974 million bpd in March 2026. The Kingdom's crude oil production also hit a documented low of 6.316 million bpd in April 2026, compared to 6.967 million bpd in March 2026, with both figures representing record lows in available data stretching back to 2002. Attacks on key energy facilities in Gulf countries caused damage and disrupted shipping through the Strait of Hormuz, a vital passage for about 20% of global oil and liquefied natural gas (LNG) flows. These attacks were in response to joint U.S.-Israeli strikes initiated in late February 2026. The International Energy Agency (IEA) estimated the conflict halted over 14 million bpd of Middle Eastern oil production, leading the United States to become the world's largest oil exporter.