OPEC’s crude oil production rose by 217,000 barrels per day (bpd) to 27.453 million bpd in October, but still fell short of the cartel’s share of the 400,000-bpd total output hike of the OPEC+ group. Under the OPEC+ deal, the ten OPEC members bound by the OPEC+ pact should be raising their combined production by 254,000 bpd each month.
Yet, estimates from secondary sources in OPEC’s Monthly Oil Market Report (MOMR) published on Thursday continued to show what analysts, tanker-tracking firms, and previous OPEC monthly reports showed:…OPEC Fell Short On Oil Production Target In October
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