Economy
Add as a preferred source on GoogleOPEC’s secondary-source figures put total output at 27.16 million barrels per day, up 1.97 million from September.
Saudi Arabia and Iraq accounted for most of OPEC’s October crude production increase, according to the organization’s November report.
OPEC’s November report put total production at 27.16 million barrels per day, measured on a secondary-source basis. Saudi Arabia’s output rose by 1.18 million barrels per day to 9.19 million, while Iraq’s increased by 496,000 barrels per day to 4.49 million.
Seven OPEC+ countries are scheduled to meet Nov. 29 to review market conditions, OPEC said.
Combined crude and condensate production averaged 1,687,710 barrels per day, down 1.7% from September. Crude alone reached 101% of the quota.
WTI is the U.S. benchmark, while Brent serves as an international reference.
U.S. commercial crude stocks fell by 0.9 million barrels in the week ended Oct. 30, while December 2026 WTI futures settled Tuesday at $86.04.
