OPEC pumped 26.33 million barrels per day in October, up 195k bpd from September, in keeping with Reuters’ influential secondary sources survey.
The rise was centered on Libya, which had curtailed manufacturing throughout a political dispute in September. Libya will not be topic to quotas.
Venezuela additionally expanded manufacturing to the best since 2020 whereas Iraq and Iran posted declines. The drop in Iraq is especially notable because it reveals that they may very well be delivering on compensation cuts.
