OPEC April Output Drops to 20.04 mln bpd

OPEC crude output fell 830,000 bpd in April to 20.04 million bpd, the lowest since 2000.
Production drop resulted from the U.S.-Israeli conflict with Iran closing the Strait of Hormuz and export cuts.
Kuwait saw the biggest decline, while Saudi Arabia, Iraq fell further; UAE, Venezuela, Libya increased output.
Eight OPEC+ members planned output hikes in April, but war on Feb 28 halted the schedule; UAE exits OPEC May 1.