Bangladesh, Sept. 12 -- Riyadh is facing an unprecedented squeeze on its oil industry as disruptions around the Strait of Hormuz and Bab al-Mandeb threaten exports, push crude above $100 a barrel and deepen fears of a global energy shock.

Saudi Arabia's oil industry is confronting one of its most severe disruptions in decades, with crude production plunging by almost 2 million barrels per day in August to its lowest level since the 1990-91 Gulf War.

According to figures Saudi Arabia provided to OPEC, the kingdom's crude production fell by approximately 1.9 million barrels per day last month to just 6.238 million barrels per day. The figures, cited by Bloomberg in a report published September 10, represent a dramatic decline for the wor...