Recent OPEC data reveals a dramatic drop in oil production due to ongoing disruptions caused by the Iran war. The organization has reported that crude output fell nearly 8 million barrels per day in March, marking the worst decline in decades. As a direct consequence, OPEC has been compelled to revise its second-quarter global oil demand forecast downward, attributing the challenges to increased tensions in the Middle East. Despite this turbulent environment impacting exports, OPEC maintains a cautious outlook on global oil demand growth in the coming years. The significant supply shock has not only affected production but has also caused fluctuations in oil prices, leading to a deficit in the market.