OPEC oil production reached a new low in April due to disruptions in Hormuz exports.

OPEC's oil production fell in April to its lowest level in over 20 years, according to a Reuters survey, as the conflict between the U.S.-Israeli forces and Iran effectively closed the Strait of Hormuz, necessitating export reductions. The crude output among the 12-member Organization of the Petroleum Exporting Countries decreased by 830,000 barrels per day from March to 20.04 million bpd. The March figure was also revised down by 700,000 bpd due to a revision in Saudi Arabia's estimates.

In April, eight members of the OPEC+ coalition, which includes OPEC and its allies such as Russia, had planned to increase oil production, but the onset of the Iran conflict on February 28, along with the closure of Hormuz, made this impossible. Kuwait experienced the most significant production decline within the group in April, reflecting a full month of export disruptions. Both Saudi Arabia and Iraq saw further production reductions, while the United Arab Emirates was the only Gulf nation to increase its output, benefitting from an export route that bypasses Hormuz. Tanker data indicated higher UAE exports in April.

April's production represents OPEC's lowest output since at least 2000, excluding any changes in membership, and is markedly lower than the levels seen during the COVID-19 pandemic in 2020 when demand drastically fell. Aside from the UAE, which will exit OPEC on May 1, Venezuela and Libya also increased their production in April.

The Reuters survey utilizes flow data from the financial group LSEG, alongside information from other tracking companies such as Kpler, and insights from sources within oil companies, OPEC, and consultancy firms.