OPEC OUTPUT HITS 20-YEAR LOW AS HORMUZ CRISIS CHOKES EXPORTS OPEC oil production fell 830,000 barrels a day in April to 20.04 million bpd, the lowest level in more than two decades, as the Iran conflict and Strait of Hormuz disruption slashed exports. Kuwait posted the biggest decline after a full month of export disruptions, while Saudi Arabia and Iraq also cut output. The UAE was the only Gulf producer to raise production, using export routes that bypass Hormuz. Venezuela and Libya also increased output. The drop came despite OPEC+ plans to increase production in April, with the war preventing the rollout of higher supply quotas(*Walter Bloomberg)