OPEC’s crude oil production plunged by the most in at least four decades in March from key members, according to a Bloomberg survey.

OPEC's significant reduction in crude oil production is the steepest seen in at least four decades, which could drastically affect global supply dynamics and prices.

Newsquawk StaffPublished 7 Apr 2026, 15:22 UTCOn the live feed at 15:02 UTC — 6 more headlines followed before this page went public

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15:13

Senior Trump Administration official described Trump as being in a "mode of defiance"; he is still willing to see if a diplomatic solution can be reached, but isn't necessarily expecting that outcome, via WSJ

15:07

US President Trump, tells Fox News, if the negotiations advance and there is something tangible, we might extend the deadline, via Al Arabiya

15:02

OPEC’s crude oil production plunged by the most in at least four decades in March from key members, according to a Bloomberg survey.

15:01

NY Fed Survey of Consumer Expectations (March.): 1yr inflation 3.4% (prev. 3.0% in Feb), 3yr 3.1% (prev. 3.00%), 5yr 3% (prev. 3%)

15:00

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OPEC collapsed by 7.56mln bpd— or about 25% — to 22mln a day.

Context

A drop of over 25% suggests serious supply-side constraints, likely leading to upward pressure on oil prices as the market adjusts to this sudden shortfall. Traders should consider the potential implications for inflation and economic growth, as higher oil prices could impact various sectors and prompt responses from central banks.

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