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OPEC Oil Output Decline Amid Cuts
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OPEC's oil output declined in April as Iran, Iraq, and Nigeria reported lower exports, in line with voluntary supply cuts agreed within the OPEC+ alliance to address economic challenges and increased non-group supply.
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How do geopolitical factors, such as sanctions and conflicts, contribute to the oil output fluctuations within OPEC nations?
How might the declining oil output from OPEC countries influence global oil prices and market competitiveness?
What strategies could OPEC implement to maintain a balance between its output cuts and global oil demand fluctuations?
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