Recent data from the International Energy Agency (IEA) indicates that Saudi Arabia’s crude oil production has dropped to a 30-year low. This shift in the global energy market comes as non-Gulf oil producers have ramped up their own output to meet global demand.

According to the IEA, non-Gulf producers have increased their collective output by 2.3 million barrels per day (mb/d) since the onset of the conflict in February. While the report highlights the decline in Saudi production, it frames this development within the context of a broader shift in market share among international oil suppliers. The data suggests that as traditional powerhouses like Saudi Arabia reduce their output, other nations are moving to fill the supply gap created by the ongoing geopolitical instability. The report does not specify whether the Saudi reduction is a result of voluntary policy decisions or external market pressures, focusing instead on the net change in global supply dynamics.