OPEC survey: Output rises 190K bpd led by Libyan recovery

OPEC pumped 26.33 million barrels per day in October, up 195k bpd from September, according to Reuters’ influential secondary sources survey.

The rise was centered on Libya, which had curtailed production during a political dispute in September. Libya is not subject to quotas.

Venezuela also expanded production to the highest since 2020 while Iraq and Iran posted declines. The drop in Iraq is particularly notable as it shows that they could be delivering on compensation cuts.

This article was written by Adam Button at www.forexlive.com.