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OPEC+ crude oil production rises in September, but remains below target

From spglobal.com

OPEC and its allies boosted crude oil output by 470,000 b/d in September, but with many members still struggling to reach their quotas, the coalition is producing far below what it said it would. Register Now OPEC's 13 countries pumped 27.29 million b/d, up 320,000 b/d from August, the latest S&P Global Platts survey found, while Russia and eight other partners added 13.44 million b/d, up 150,000 b/d. Despite the increases, the 19 members with production quotas under the OPEC+ supply accord were a combined 570,000 b/d below their allocations for the month, bringing compliance to 111.5%. (full story)

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  • Category: Fundamental Analysis