OPEC increases daily oil output by 127,000 barrels in October

Baku. 13 November. REPORT.AZ/ OPEC member-states have increased daily oil output by 127,000 barrels in October.

Report informs citing OPEC that the output was mostly increased by Saudi Arabia and UAE, while the biggest decline in output was recorded in Iran.

According to the second sources, Saudi Arabia increased the daily output by 127,000 in October. However, Saudi Arabia informed OPEC that it increased the daily output by 141,000 barrels to 10.64 million barrels.

UAE also reported that it increased the daily output by 220,000 barrels to 3.27 million barrels, while the second sources say that its monthly output was increased by 142,000 barrels.

Iran cut output by 156,000 barrels to 3.3 million barrels in October.

Libya increased the production by 60,000 barrels to 1.114 million despite the fact that in November 2017, the country promised OPEC to increase the output up to 1 million barrels per day in 2018.