Saudi Arabia has reduced crude production to its lowest levels since 1990, marking a significant break in the country's oil production. This drastic reduction in crude oil extraction represents one of the kingdom's largest production cuts in recent decades.
Riyadh has been cutting production due to the lack of available export routes to sell its oil. This shortage of export channels has forced the country to limit its productive activity, even in the face of high international demand.
Brent prices have exceeded the 105 dollars per barrel barrier, reflecting tension in global energy markets. This appreciation of crude occurs in a context of growing geopolitical instability in the Middle East region.
Black gold prices continue on an upward trajectory, reacting to the escalation of tensions in the Middle East region. Markets remain sensitive to the possibility of supply disruptions, which has been driving volatility in crude prices.
