PEC oil supply hit a four-year low in April due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Arabia.
The 14-member Organization of the Petroleum Exporting Countries pumped 30.23 million barrels per day this month, the survey showed, down 90,000 bpd from March and the lowest OPEC total since 2015, the Reuters survey showed….
An excerpt from Financial Tribune