AIRLINK 74.39 Increased By ▲ 0.14 (0.19%)
BOP 5.04 Decreased By ▼ -0.01 (-0.2%)
CNERGY 4.57 Increased By ▲ 0.15 (3.39%)
DFML 37.35 Increased By ▲ 1.51 (4.21%)
DGKC 90.75 Increased By ▲ 2.75 (3.13%)
FCCL 22.54 Increased By ▲ 0.34 (1.53%)
FFBL 32.75 Increased By ▲ 0.03 (0.09%)
FFL 9.72 Decreased By ▼ -0.07 (-0.72%)
GGL 10.87 Increased By ▲ 0.07 (0.65%)
HBL 115.80 Decreased By ▼ -0.10 (-0.09%)
HUBC 136.50 Increased By ▲ 0.66 (0.49%)
HUMNL 10.15 Increased By ▲ 0.31 (3.15%)
KEL 4.62 Increased By ▲ 0.01 (0.22%)
KOSM 4.97 Increased By ▲ 0.31 (6.65%)
MLCF 40.21 Increased By ▲ 0.33 (0.83%)
OGDC 138.14 Increased By ▲ 0.24 (0.17%)
PAEL 27.40 Increased By ▲ 0.97 (3.67%)
PIAA 24.35 Decreased By ▼ -1.93 (-7.34%)
PIBTL 6.69 Decreased By ▼ -0.07 (-1.04%)
PPL 123.30 Increased By ▲ 0.40 (0.33%)
PRL 27.20 Increased By ▲ 0.51 (1.91%)
PTC 14.02 Increased By ▲ 0.02 (0.14%)
SEARL 59.49 Increased By ▲ 0.79 (1.35%)
SNGP 69.87 Decreased By ▼ -0.53 (-0.75%)
SSGC 10.37 Increased By ▲ 0.01 (0.1%)
TELE 8.66 Increased By ▲ 0.10 (1.17%)
TPLP 11.28 Decreased By ▼ -0.10 (-0.88%)
TRG 64.50 Increased By ▲ 0.27 (0.42%)
UNITY 26.70 Increased By ▲ 0.65 (2.5%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 7,864 Increased By 25.8 (0.33%)
BR30 25,594 Increased By 134 (0.53%)
KSE100 75,312 Increased By 381 (0.51%)
KSE30 24,200 Increased By 53.9 (0.22%)

LONDON: OPEC oil output has risen for a third straight month in October, a Reuters survey found on Tuesday, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.

The Organization of the Petroleum Exporting Countries has pumped 27.90 million barrels per day (bpd), the survey found, up by 180,000 bpd from September. Production in August had risen for the first time since February.

October’s rise was led by Nigeria, which has seen a recovery in shipments which have often been hindered by crude theft and insecurity. Angola exported more cargoes and Iran, which has been boosting supply despite US sanctions, also pumped slightly more, the survey found.

Output from the 10 OPEC members that are subject to OPEC+ supply cut agreements rose by 150,000 bpd, the survey found. Saudi Arabia and other Gulf members maintained strong compliance with agreed cutbacks and extra voluntary reductions.

The Reuters survey aims to track supply to the market. It is based on shipping data provided by external sources, LSEG flows data, information from companies that track flows such as Petro-Logistics and Kpler, and information provided by sources at oil companies, OPEC and consultants.

Comments

Comments are closed.