OPEC oil production fell by 200,000 bpd In March

OPEC crude oil production dropped just over 200,000 barrels per day in March to a daily average of 31.96 million barrels. Saudi Arabia’s March production fell 47,000 barrels to 9.934 million barrels a day. 

Meanwhile, the cartel expects the US oil output to rise by 1.5 million barrels a day, up by 40,000 barrels from last month’s forecast.