A fresh survey reveals that OPEC's crude oil production fell sharply in August, snapping a two-month recovery streak, as supply from the bloc's largest producer Saudi Arabia came under pressure from threats facing two key export routes.

The survey indicates that OPEC's monthly supply dropped by 900,000 barrels per day, averaging 19.91 million barrels per day last month. Saudi Arabia's output fell by just over 1 million barrels per day, while increases from Iraq and Venezuela offset only a fraction of that decline.

The renewed drop in OPEC production underscores the ripple effects of escalating U.S.-Iran military operations. Attacks claimed by Yemen's Houthi rebels forced Saudi Arabia to shut down several energy facilities in the country's south on Tuesday, with the resulting turmoil pushing Brent crude futures toward the $100 per barrel mark on the London market.

According to the survey, Saudi crude output fell by 1.12 million barrels in August to 6.98 million barrels per day, the lowest level since May. Preliminary tanker tracking data compiled by Kpler and Vortexa shows that Saudi Arabia's observable crude exports have plummeted by one-third to 3.03 million barrels per day.