Saudi Arabia Leads Further Jump in OPEC+ Oil Output Despite War
Saudi output reached 10.882 million barrels a day in February, and OPEC+ producers pumped 41.23 million barrels a day in October, secondary sources said.
- Saudi Arabia boosted oil output by 26% in October, reaching 10.563 million barrels per day, according to data reported Wednesday. This marks the highest level since before the Iran war began.
- To maximize production, Saudi Aramco CEO Amin Nasser said the company intends to "maximize production going forward in the fourth quarter." The kingdom routed exports through Persian Gulf terminals and the East-West pipeline to Yanbu, bypassing Strait of Hormuz disruptions.
- OPEC+ producers pumped 41.23 million barrels a day in October, up 2.04 million from September, according to secondary sources cited by OPEC. Iraq reported a new wartime high of 4.888 million bpd, exceeding its 4.431 million bpd target.
- Brent futures have dropped about 18% since the start of the month, reaching $93 a barrel as the Saudi rebound eases prices. Iran output remains at a 40-year low amid the U.S. naval blockade.
- OPEC+ is reviewing each member's maximum production capacity ahead of a November 29 ministerial meeting to set 2027 output targets. The producer group expects global oil demand to rise by 2.55 million bpd next year to an average of 108.3 million bpd.
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Saudi Arabia reported to OPEC that its oil production in October amounted to 10.563 million b/s, compared to 8.372 million b/s in September and 6.238 million b/s in August, as stated in OPEC's report.
Saudi Arabia leads further jump in OPEC+ oil output despite war
LONDON: Top oil exporter Saudi Arabia boosted oil output in October to the highest since February, the last month before the Iran war disrupted Middle East supplies, according to a copy of OPEC’s monthly report seen Saudi Arabia told OPEC that it pumped 10.563 million barrels per day of crude in October, the report said, up from 8.372 million bpd in September. That marked its highest since February 2026 when Saudi Arabia told OPEC it produced 1…
Saudi Crude Output Jumps 26% as Riyadh Reports Near Pre-War Production
Saudi Arabia told OPEC it raised crude production in October to 10.563 million barrels per day, back near pre-war levels and slightly above its OPEC quota of about 10.5 million bpd, Bloomberg columnist Javier Blas reported on Wednesday. Output rose 26% from 8.372 million bpd in September to the highest level since February, when the kingdom reported 10.882 million bpd in the last month before the Iran war disrupted Middle East supply, according …
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