Opec’s oil production plunged by a record amount in March as the Iran war severely restricted the group’s exports and attacks on energy infrastructure hit output.
The cartel’s members produced 27 per cent less oil in March than in February as Iran’s effective closure of the Strait of Hormuz hit producers around the Gulf, data from the group shows.
Production across the group was 20.8mn barrels a day in March, 7.9mn b/d less than in February, Opec said in a 92-page document that made no direct mention of the conflict that has swept up five of its members.
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