OPEC Output Plunges Further as US Squeezes Iran, Survey Shows Bloomberg Markets By: Grant Smith Β· Julian Lee Β· Bill Lehane Β· Prejula Prem 5 June 2026 at 13:51 OPEC crude output fell last month, hitting its lowest level in decades as the US blockade of Iran and disruption in the Persian Gulf continued to curb production. An Organization of the Petroleum Exporting Countries oil drum.