Total output up 132 MBOPD, Saudi pumping at highest rate since 2016
OPEC has released its Monthly Oil Market Report, outlining the cartel’s assessment of the state of the international oil industry.

OPEC produced a total of 32,761 MBOPD in September, representing a moderate increase in overall production compared to last month. Cartel production grew by a net 132 MBOPD, less than the 341 that was added from July to August. While several countries saw significant changes in production, Iran, Libya and Saudi Arabia showed the largest swings.

Both Saudi Arabia and Libya added over 100 MBOPD of oil output in September. Libya’s growth is likely due to relative stability in the country over the past few months. Libyan oil output is highly ...

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