OPEC crude production fell by 7.56 million barrels a day, or about 25%, to 22 million in March, the steepest monthly decline in Bloomberg data since 1989, as conflict involving Iran curtailed flows through the Strait of Hormuz. Iraq led losses, followed by Saudi Arabia and the UAE, despite partial pipeline diversions. Oil prices surged करीब $120 a barrel before easing near $110. The drop exceeds the 1973 embargo in scale; historian Daniel Yergin described that period as a “gross loss” of 5 milli

OPEC crude production fell by 7.56 million barrels a day, or about 25%, to 22 million in March, the steepest monthly decline in Bloomberg data since 1989, as conflict involving Iran curtailed flows through the Strait of Hormuz. Iraq led losses, followed by Saudi Arabia and the UAE, despite partial pipeline diversions. Oil prices surged करीब $120 a barrel before easing near $110. The drop exceeds the 1973 embargo in scale; historian Daniel Yergin described that period as a “gross loss” of 5 million barrels a day.