OPEC output falls to 36-year low as Iran war cuts Gulf supply
May 7, 2026
(World Oil) – OPEC’s crude production fell to a new 36-year low last month as the Iran war continued to choke off exports from the Persian Gulf and forced further shut-ins, according to a Bloomberg survey. Output from the Organization of the Petroleum Exporting Countries declined by 420,000 bpd to 20.55 MMbpd in April, the lowest since 1990, driven by deeper
