Oil production by the Organisation of the Petroleum Exporting Countries OPEC dipped slightly in April, despite a planned increase in output, according to a Reuters survey published on Thursday, May 8, 2025.
The decline was primarily attributed to reduced supply from Venezuela, where fresh U.S. sanctions disrupted shipments, alongside smaller decreases in Iraq and Libya.
OPEC's total output for April stood at 26.60 million barrels per day, marking a modest drop of 30,000 bpd from March.
This fall came even as OPEC, which includes non-OPEC partners such as Russia, began to ease its most recent voluntary production cuts at the start of the month.
The group intends to ramp up output further in May and June, citing favourable market conditions like low global oil inventories.