OPEC members increase oil output

Daily oil output in OPEC countries increased by 340,000 barrels in September, totaling 27.15 million barrels. According to the International Energy Agency’s (IEA) October report, the increase was mainly due to Saudi Arabia and Iraq, Report informs.

At the same time, world production fell by 260,000 barrels, amounting to 96,000,000 barrels on losses caused by Hurricane Ida in the United States, and repairs in Canada and Norway.

OPEC + member states fulfilled the agreement on the reduction of oil production in September by 116%. In particular, this figure was 118% for OPEC countries and 113% for non-OPEC countries.