finance
OPEC Crude Production Falls to 36-Year Low in April Amid Conflict
OPEC's crude oil output reached a new 36-year low last month. The drop resulted from the Iran war disrupting exports from the Persian Gulf and prompting additional shut-ins. A Bloomberg survey recorded the decline.
May 6, 11:36 AM·1m read3 sources
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OPEC's crude production fell to a 36-year low in April. The decline occurred as the Iran war continued to disrupt exports from the Persian Gulf and forced further shut-ins. A Bloomberg survey documented the figures for the month.
The survey placed April output at the lowest level since the late 1980s. Production volumes declined from the prior month. The data covers OPEC member countries' combined crude output.
The Iran war restricted shipments through the Persian Gulf. Producers responded with additional shut-ins to manage the constraints. These factors combined to drive the overall reduction in OPEC supply.
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