OPEC Monthly Oil Market Report, May 2026
OPEC's monthly report for May 2026 indicates a significant decrease in oil output. The total output from OPEC 12 fell by 9,667 kb/d from February to April 2026, primarily due to reductions from major producers. This decline highlights ongoing challenges within the oil market as member countries adjust their production levels.
- ▪OPEC 12 output decreased by 9,667 kb/d from February 2026 to April 2026.
- ▪The largest decreases in production were reported from Saudi Arabia, Iraq, Kuwait, UAE, and Iran.
- ▪This reduction in output reflects ongoing adjustments in the oil market among OPEC member countries.
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