Foreign media statistics show that OPEC's oil production decreased by 7.3 million barrels per day last month, the lowest since June 2020

According to statistics from Reuters, the Organization of the Petroleum Exporting Countries (OPEC) produced 21.57 million barrels of oil per day last month, a decrease of 7.3 million barrels per day month-on-month, the lowest since June 2020. In that month, the 12 member countries of OPEC produced 21.38 million barrels per day, when OPEC and partner countries agreed to cut production by 9.7 million barrels per day in response to the demand collapse caused by COVID-19.

The report indicates that the decrease in OPEC's oil production last month was mainly influenced by production cuts from Kuwait, Iraq, Saudi Arabia, and the United Arab Emirates, with Iraq's output reduced to 1.4 million barrels per day, a month-on-month decrease of 2.75 million barrels. Saudi Arabia and the United Arab Emirates had relatively smaller cuts due to their ability to bypass the Strait of Hormuz for oil exports. Only Venezuela and Nigeria among the member countries increased production last month.

The report cites sources indicating that the aforementioned statistics may still be revised downward, involving some oil-producing countries affected by the blockade of the Strait of Hormuz