OPEC’s crude oil production dropped by 210,000 barrels per day (bpd) in October compared to the previous month after the cartel and the wider OPEC+ group reversed the small output increase in September. The crude oil production of all 13 OPEC members, including those exempt from the OPEC+ pact - Venezuela, Iran, and Libya - averaged 29.
49 million bpd in October, according to secondary sources in the organization’s closely-watched Monthly Oil Market Report (MOMR) published on Monday. Saudi Arabia, the de facto leader of OPEC and its…OPEC Oil Production Fell In October As Members Missed Targets
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