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The Economic Times

Economy / The Economic Times

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OPEC oil output plunges in March as war forces export cuts, Reuters survey finds

OPEC oil production hit a low in March, the lowest since mid-2020. This significant drop was caused by export cuts. Major producers like Kuwait, Iraq, Saudi Arabia, and the United Arab Emirates reduced their output. Only Venezuela and Nigeria saw an increase in production during the month. This situation highlights a major shift in global oil markets.

31 Mar 2026 9:35 pm