OPEC+ oil output in October nears pre-Iran war rate, led by Saudi Arabia
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓OPEC+ crude oil production jumped in October, reaching 41.23 million barrels per day.
- ✓Saudi Arabia led this rise, boosting its output significantly despite ongoing Iran war disruptions.
- ✓The group used ship-to-ship transfers to keep exports moving.
Story at a Glance
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- Indian Markets
- Reported By
- Reuters
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- 2 Minute(s)
- Market Focus
- India Economy
LONDON, Nov 11 (Reuters) - OPEC+ crude oil production jumped in October, led by a sharp increase in output from Saudi Arabia despite continued disruption to shipments through the Strait of Hormuz caused by the Iran war.
The OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, pumped 41.23 million barrels per day in October, OPEC said in a monthly report on Wednesday, up about 2.04 million bpd from September.
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The figures, based on secondary sources, add to signs that Gulf oil producers are recovering exports by using workarounds such as ship-to-ship transfers to bypass disruption caused by the conflict.
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Reuters
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