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Saudi Arabia leads further jump in OPEC+ oil output despite war
- Riyadh boosted oil output in October to its highest since February, a significant move for global oil supply
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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 by Reuters.
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 10.882 million bpd.
OPEC+ keeps December oil output targets steady ahead of tougher call for 2027
The wider OPEC+ producer group in October also raised output, pumping 41.23 million bpd according to secondary sources, up 2.04 million bpd from September, OPEC said in the report.