OPEC+ keeps more barrels off market in April
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
OPEC+ fell short of its pledged April production increase of 411,000b/d, instead collectively reducing output—a move that might have kept Brent crude prices above the $60/bl mark. According to Petroleum Economist estimates, OPEC production dropped to 26.59m b/d in April compared with 26.83m b/d in March. Venezuela was the key country behind the output decrease. OPEC-9 output, on the other hand, edged up to 21.35m b/d from 21.30m b/d. OPEC+ members saw their production fall to 12.91m b/d from 12.97m b/d a month ago. OPEC-9 compliance was at 99%, while OPEC+ producers adhered to their agreement by only 98%. If OPEC+’s present output trend continues, the group’s compliance could increase to 100
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
