BackOPEC Oil Production Plummets Over 30% Amid Iran War; Demand Forecasts Diverge

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CNBC13.05.2026Business

OPEC Oil Production Plummets Over 30% Amid Iran War; Demand Forecasts Diverge

OPEC Iran War Oil Production

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OPEC reports a 30% drop in oil production since late February due to the Iran war, with April output falling by 1.7 million bpd.
Demand growth forecasts are lowered to 1.2 million bpd.
Contrasting views emerge as IEA predicts a 420,000 bpd demand fall in 2026, citing supply constraints from the Hormuz blockade, despite producers' mitigation efforts.

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OPEC reports a 30% drop in oil production since late February due to the Iran war, with April output falling by 1.7 million bpd. Demand growth forecasts are lowered to 1.2 million bpd. Contrasting views emerge as IEA predicts a 420,000 bpd demand fall in 2026, citing supply constraints from the Hormuz blockade, despite producers' mitigation efforts.

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OPEC Oil Production Plummets Over 30% Amid Iran War; Demand Forecasts Diverge

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