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The Economic Times

Economy / The Economic Times

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OPEC oil output lowest since at least 2000 as US blockade squeezes Iran: Report

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 blockade impacting Iran's exports, making it impossible for OPEC+ members to meet their planned production increases.

10 Jun 2026 8:21 pm