Venezuela output lowest in survey history, save ’02-’03 strike Angola production falls to 18-month low Saudi output 9.95 mil b/d, Iraq 4.42 mil b/d, Iran 3.83 mil b/d OPEC crude production in April slid for the third straight month to a one-year low, largely due to Venezuela’s continued output deterioration and Iraq’s first decline since November, an S&P Global Platts survey found Friday. Related tables: OPEC crude oil output and production vs. cut allocations The 14-country bloc produced 32.00 million b/d in April, a 140,000 b/d drop from March, according to the survey. The April figure is about 730,000 b/d below OPEC’s notional ceiling of about 32.73 million b/d, when every country’s quota under its production cut agreement is added up. OPEC production was last lower in April 2017 at 31.85 million b/d, the last month before African minnow Equatorial Guinea became the group’s newest member. Venezuela’s woes have […]