Saudi Arabia Leads OPEC+ Production Recovery Toward Pre-War Levels

Detailed summary

OPEC+ crude oil output rebounded in October to nearly its pre-Iran war level, driven by a sharp increase in Saudi production despite continued disruptions to oil shipments through the Strait of Hormuz. Saudi Arabia reported its highest output since the war began, helping lift the alliance’s combined production to 41.23 million barrels per day (bpd), according to OPEC’s monthly report released Wednesday.