Saudi oil output jumps 26% to war-time high
Saudi Arabia told OPEC its October crude output rose to 10.56M bpd, while OPEC+ output rose by 2.04M bpd.
Oil (US Oil Fund, tracks WTI crude)
$143.29 +14.8% · 3 mo
What we know
Saudi output rose 2.19M bpd to 10.56M bpd in October, per OPEC data cited by market news accounts. OPEC+ output, including former member UAE, averaged 41.23M bpd, up 2.04M. OPEC left demand growth forecasts unchanged, while oil was reported higher on Hormuz mines.
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“SAUDI OIL OUTPUT SURGES 26% AS OPEC+ RAMPS UP PRODUCTION”
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