OPEC production retreats in March amid declining exports from Iraq and Nigeria

OPEC oil production fell last month, a survey showed on Monday, reflecting lower exports from Iraq and Nigeria on the back of ongoing voluntary supply cuts by some members agreed within the broader OPEC+ alliance.

According to Reuters, the survey, which was based on navigation data and information from sources in the oil sector, confirmed that OPEC pumped 26.42 million barrels per day last month, a decrease of 50 thousand barrels per day from February.