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OPEC crude production dropped by 7.3 million barrels a day in March to 21.57 million bpd, the lowest since June 2020, as the U.S.-Israeli war against Iran disrupted flows through the Strait of Hormuz and forced export cuts. Declines were led by Iraq,

2026-03-31

OPEC crude production dropped by 7.3 million barrels a day in March to 21.57 million bpd, the lowest since June 2020, as the U.S.-Israeli war against Iran disrupted flows through the Strait of Hormuz and forced export cuts. Declines were led by Iraq, Kuwait, Saudi Arabia and the UAE, while only Venezuela and Nigeria increased output.

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