Archive · 11 Sep 2026
BRICS Summit Focuses on Oil Supply as Brent Tops $108
BRICS is a group that produces a large share of the world’s oil.
It now accounts for about 44 percent of global oil production.
Saudi Arabia and Russia provide more than half of the group’s oil.
Oil prices rose, with Brent crude passing $108.
Saudi Arabia’s production dropped sharply in August.
The decrease was estimated at 1.9 million barrels per day.
This happened as geopolitical tensions disrupted energy supplies.
Leaders are discussing how to restore oil flows and improve energy security.
BRICS now accounts for about 44 percent of global oil production.
Saudi Arabia and Russia together produce more than half of BRICS’ oil output.
Brent crude crossed $108 as the summit addressed global energy concerns.
Saudi Arabia’s oil production reportedly fell by an estimated 1.9 million barrels a day in August.
The summit’s discussions are centered on restoring disrupted oil flows amid geopolitical tensions.
- Who
- BRICS members, with Saudi Arabia represented by Foreign Minister Prince Faisal bin Farhan Al Saud and Russia represented by President Vladimir Putin.
- What
- The BRICS Summit is focusing on oil supply, energy security and disrupted crude flows as Brent crude crosses $108.
- When
- The reported Saudi production decline occurred in August; the article does not specify the summit date.
- Where
- At the BRICS Summit; the article does not specify its location.
- Why
- The discussions are taking place because geopolitical tensions have disrupted oil production and flows, raising energy-security concerns.
- BRICS oil share
- About 44 percent of global oil production
- Largest BRICS oil producers
- Saudi Arabia and Russia together account for more than half of the bloc’s oil output
- Brent crude
- Crossed $108
- Saudi production decline
- Estimated decrease of 1.9 million barrels a day in August
- Saudi production level
- Reportedly fell to its lowest level since 1990
- Main summit topics
- Oil supply, energy security and restoring disrupted flows
- Saudi representative
- Foreign Minister Prince Faisal bin Farhan Al Saud
- Russian representative
- President Vladimir Putin