Saudi Arabia increases oil output in October, Iraq - reduces

In October Saudi Arabia increased oil output by 1.2% - to 9.780 million barrels per day against 9.662 million barrels per day in September. Report informs with reference to Angi, in annual terms, the indicator increased by 9%.

Exports increased by 4.9% to 6.833 million barrels per day, up from 6.516 million barrels per day in September. On an annualized basis, the figure increased by 10.9%.

In October Iraq reduced oil exports by 0.7% compared to the previous month - to 3.528 million barrels per day. At the same time, the extraction of raw materials decreased by 0.6% - to 4.07 million barrels per day. Compared to October 2020, the first indicator increased by 7.2%, the second - by 5.9%.

At the end of October, the countries belonging to the OPEC+ group executed the transaction of the same name by 116%. At the same time, the OPEC member countries fulfilled their obligations under the transaction by 121%, the oil-producing countries that are not part of the cartel - by 106%.