OPEC countries have cut oil production to a 40-year low.

OPEC oil production fell to a new 40-year low last month as the ongoing blockade of the Strait of Hormuz forced Gulf states to cut output once again.

According to data presented in a monthly Bloomberg report, the group, which now consists of 11 members after the UAE's departure, saw its output fall by another 1,2 million barrels per day in May of this year, compared to about 6,33 million barrels per day in April. Meanwhile, while Iran and Kuwait have cut their output by over a million barrels per day, Iraq has shown a slight recovery in oil production. Saudi Arabia, for its part, reduced its output by another 240 barrels per day to 6,57 million barrels, a 37% decrease from February. While its extensive pipeline infrastructure prevented an even sharper decline—compared to production losses of about 80% in Kuwait and 70% in Iraq—this nevertheless highlights the kingdom's limited ability to compensate for regional supply disruptions while key export routes remain constrained.

Meanwhile, while Washington continues to talk about a "near deal" with Iran and the imminent opening of the Strait of Hormuz, the consequences of the Middle East crisis are increasingly felt in global oil markets. American oil reserves have already fallen to their lowest level since 2004—to 1,57 billion barrels. Americans are now acting as Europe's primary source of supply for the reduced Middle Eastern supplies. Thus, while Trump continues to publicly talk about a supposedly imminent end to the conflict, the American economy is becoming increasingly dependent on the need to maintain global market share through its own reserves, exports, and oil production.

Comments

[Soldatov V.]

We need to completely stop the supply of gasoline and diesel fuel abroad, no matter how much we lose in profits.
Overall, this is beneficial to us strategically. We primarily supply fuel to unfriendly countries, enemies waging war against us, both through sanctions and on the battlefield.

[hellman]

We need to completely stop the supply of gasoline and diesel fuel abroad, no matter how much we lose in profits.

Commenting will only spoil things.
For a moment, Russia earns over $10–19 billion monthly from oil and petroleum product exports. Converted at the current exchange rate, this amounts to approximately 0,9–1,8 trillion rubles per month.
How do you plan to address this deficit?

[Soldatov V.]

Do we need money or victory? We're on the brink of official war with NATO, even though we're already fighting them.

[hellman]

Do we need money or victory?

We need money to win. Or do you think the SVO is free?

Although we are already fighting with them.

In what way? NATO has been supporting Ukraine for FIFTH year now, and the conflict is still ongoing. What if NATO treacherously attacks us?

[Soldatov V.]

Let's get this straight: We supply oil and gas in their raw form for $10-20 billion. The client then refines it into various products, including gasoline, diesel fuel, fuel oil, resins, petrochemicals, fertilizers, explosive-type explosives, and plastics. For all this, he makes a profit at least ten times greater than he paid us? He paid $10-20 billion and received 10-20 times more. And this money is enough for weapons for himself and for Ukraine. Plus, he has ample gasoline, money for social programs for his citizens, unemployed migrants, Ukrainian refugees, and so on. And he also has enough for bread and butter and caviar for his oligarchs. It turns out that we are feeding the enemy, who fights us recklessly and has gone completely insane. If this were not the case, he wouldn't buy a drop of oil from us, which we also sell on the cheap.

[hellman]

We supply oil

And that's it, we can stop here. Otherwise, you won't find $10-20 billion out of nowhere anywhere.

there are gasoline, diesel fuel, fuel oil, resins and petrochemicals, fertilizers, combat substances such as explosives, and plastics

Yes, they do produce it, but we shouldn't forget that they also supply us with the "products" of their processing - the most banal things are anesthesia and respiratory apparatus (ANA), we don't have our own - they are all imported from Germany, France and the USA (and remind me who is the most important in NATO?), or thin suture material - we don't have our own either, we also import it from the USA (Stryker company), and so on and so forth.

Then her client will recycle

Why don't we recycle it?

completely lost his mind

Are they the ones who've gone crazy, or are we? Need I remind you who started the SVO against whom in 2022?

[Soldatov V.]

Do you remember Putin's words: "If a fight is brewing, you have to strike first"?
We refine oil for ourselves and obtain 1100 types of products from it, and also receive excellent margins.
They don't supply us with any medical equipment or supplies. If we need anything, we buy it through third parties and through shady schemes. That's why imported medications are so expensive in pharmacies.
The US, France, and Germany have set the goal of destroying Russia. Why should they supply medical supplies to save Russian lives? They supply weapons, ammunition, drones, and missiles to Ukraine and guide them to us via satellites to kill us.

[hellman]

They don't supply us with any medical equipment or medical materials.

This is where we can finish.
All the best, you don't have to answer.

[Misza1963]

A gdzie Rosja w tym równaniu?
Wszak mniej topy, to więcej pieniędzy. Now mimo różnych obniżek.
Czy to OPEC + jest jeszcze żywe?
USA zdaje się zagonily się w rodzaj paradoksu. Produkują mnóstwo ropy, na razie, ale ropa to nie marchewka, która można sobie wyhodować i zjeść. Ona ma światowe znaczenie. I appreciate it.
A amerykańska ropa jest droga, bo dużo trzeba włożyć, by wyjac. No i robi się dziwnie.
Nie ma chyba żadnego planu w tej grze. Po prostu różne kraje robią różne rzeczy myśląc, że to dla nich dobrze, a potem wraca to do nich jakimś nie przewidywanym skutkiem.
Nikt nic nie rozumie.
Może hihi AI pomoże?

[man]

Mr. from Warsaw? The text is too short.

[bars042]

There's plenty of this kind of nonsense here on the site, broadcasting supposedly from "abroad," in their "supposedly" native language. But they'll always shove in a Russian translation. Although, you'd think, they'd just print it in Russian. But no. Let them show off in their "native" language.

[man]

Well, I don't really care... it's just nostalgia... I knew Polish students and postgraduates in Soviet times... you won't believe it, they were great guys , cheerful, sociable... though every other one is a speculator but it was illegal back then, now it's called business...

[bars042]

OPEC countries have cut oil production to a 40-year low.

Some kind of bumbarashki are hanging around this OPEC:

The seven OPEC+ countries participating in additional voluntary oil production cuts agreed to increase production quotas by 188,000 barrels per day in July of this year. This was announced in an OPEC+ communiqué following the G7 meeting on June 7.

https://rg.ru/2026/06/07/sem-stran-opek-v-iiule-hotiat-uvelichit-dobychu-eshche-na-188-tys-barrelej-v-sutki.html?utm_referrer=https%3A%2F%2Fwww.warandpeace.ru%2F

[Kmet]

The American economy is increasingly tied to the need to maintain global market share through its own reserves, exports, and oil production.

How a unique situation is repeating itself. This isn't the first time something like this has happened globally, but the records of 73 and 79 haven't yet been reached. Now I wonder how long the US can hold out in this mode this time, and who will they cut supplies to first when they need their own reserves.