Oil production hit 14.6 million barrels a day in the first quarter of 2026, down from 20.7 mb/d in the fourth quarter of 2025 and the 2025 annual average of 20 mb/d. Natural gas output averaged 11.7 billion cubic feet per day in 2025, totaling 112 billion cubic meters for the year. The data covers June 17 through July 12, 2026, drawing on IEA, EIA, and Kpler figures. Transit volumes have dropped sharply because of U.S.-Iran hostilities.
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