OPEC crude production fell to its lowest level since 2000 as the Iran conflict, export disruptions, and steep losses in Iraq and Iran overwhelmed recent quota increases.

OPEC oil output in May plummeted to its lowest in over two decades, dropping by 1.06 million barrels per day. This significant decline was primarily driven by a U.S. naval…

OPEC crude production fell to its lowest level since 2000 as the Iran conflict, export disruptions, and steep losses in Iraq and Iran overwhelmed recent quota increases.