OPEC crude output fell to 16.33 million barrels per day in May 2026, the lowest in decades, as US sanctions and a naval blockade crushed Iranian exports.

Iran's oil exports fell to their lowest level in at least six years in May as the U.S. naval blockade continued to choke off crude shipments and leave tens of millions of barrels…

Tightened sanctions and shipping curbs slash Tehran’s crude flows to six-year low