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OPEC production nears pre-war levels as Saudi supplies recover
The Organization of the Petroleum Exporting Countries (OPEC) came close to its pre-war production levels in October, with Saudi Arabia leading a notable recovery in crude oil output, according to the Wall Street Journal, citing the organization’s latest monthly data.
OPEC’s crude oil production rose by about 2 million barrels per day in October, reaching approximately 27.2 million barrels per day, compared with around 28.6 million barrels per day in February, before the war against Iran began.
Saudi Arabia increased its crude oil production to approximately 10.6 million barrels per day, up from 8.4 million barrels per day in September.
According to the newspaper, alternative pipelines and ship-to-ship oil transfers, along with U.S. military support, helped Gulf oil producers maintain export flows despite continued repeated attacks on ships in the Strait of Hormuz and Houthi threats to shipping in the Red Sea#HuangRisksOusterOverReportedAffairWithSubordinate #CoreWeaveJumps10%On168%RevenueGrowth #MSCIRemovalMayCurbStrategy’sBitcoinBuying #CanNvidiaEarningsEaseMarketConcerns? #CanNvidiaEarningsEaseMarketConcerns? .
$XAG
$CL
OPEC production nears pre-war levels as Saudi supplies recover
The Organization of the Petroleum Exporting Countries (OPEC) came close to its pre-war production levels in October, with Saudi Arabia leading a notable recovery in crude oil output, according to the Wall Street Journal, citing the organization’s latest monthly data.
OPEC’s crude oil production rose by about 2 million barrels per day in October, reaching approximately 27.2 million barrels per day, compared with around 28.6 million barrels per day in February, before the war against Iran began.
Saudi Arabia increased its crude oil production to approximately 10.6 million barrels per day, up from 8.4 million barrels per day in September.
According to the newspaper, alternative pipelines and ship-to-ship oil transfers, along with U.S. military support, helped Gulf oil producers maintain export flows despite continued repeated attacks on ships in the Strait of Hormuz and Houthi threats to shipping in the Red Sea#HuangRisksOusterOverReportedAffairWithSubordinate #CoreWeaveJumps10%On168%RevenueGrowth #MSCIRemovalMayCurbStrategy’sBitcoinBuying #CanNvidiaEarningsEaseMarketConcerns? #CanNvidiaEarningsEaseMarketConcerns? .
