OPEC Oil Production Plunges 30 Percent Since Start of Iran War

The 12-member cartel anticipates global oil demand will remain robust this year.

Exterior views of OPEC (Organization of the Petroleum Exporting Countries) headquarters in Vienna, Austria, on April 28, 2026. Christian Bruna/Getty Images

Crude oil production has declined by more than 30 percent since the start of the war in Iran in late February, according to the Organization of Petroleum Exporting Countries (OPEC).

Output fell by 1.7 million barrels per day in April after production levels dropped by 7.9 million barrels per day in March, the cartel said in its latest Monthly Oil Market Report, released on May 13.