Saudi Arabia's oil export revenue has reached its lowest point in more than three years due to sluggish demand growth and its impact on crude prices.

The state statistics agency reported a 6% decline in income from crude oil and refined products in August, bringing it down to $17.4 billion. This is the lowest monthly revenue since June 2021.

The decline in revenue highlights the challenges faced by the oil market as global demand struggles to keep up with production levels. It also emphasizes the volatility of crude prices, which are influenced by economic factors and geopolitical developments. Financial markets and analysts closely monitor Saudi Arabia's revenue trends as it is the world's largest oil exporter.