OPEC+ countries’ crude output up 70,000 barrels per day in October - IEA
Crude oil production by OPEC+ agreements’ member-states rose by 70,000 barrels per day in October 2023 to 36.51 mln barrels per day, the International Energy Agency (IEA) said in its November report, News.Az reports citing TASS.
Saudi Arabia cut output by 20,000 barrels per day to 9.01 mln barrels per day, while Russia increased production by 30,000 barrels per day to 9.53 mln barrels per day.
The targeted level of OPEC+ countries’ output within the framework of the agreement considering voluntary cuts equaled 36.92 mln barrels per day in October, while real production amounted to 36.51 mln barrels per day, which means output was 410,000 barrels per day behind schedule.
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