Saudi oil output at its highest since the Iran war, above 10.5 million barrels a day in October
Saudi Arabia has again raised oil production after the major disruption to energy supplies caused by the Iran war in the Middle East. In October, the country's crude oil output reached 10,563,000 barrels per day, its highest since last February.
According to the monthly report of OPEC, the oil-exporting countries' alliance, Saudi Arabia's daily crude output in September was 8,372,000 barrels. In October it rose to 10,563,000 barrels — an increase of 2,191,000 barrels per day within a single month.
The production increase by Saudi Arabia, the world's top crude oil exporter, is especially significant. Just before the Iran war began last February, the country's daily oil output was 10,882,000 barrels.
After that, as the conflict spread across the Middle East, the regional energy supply system suffered major disruption. In particular, shipping through the strategically important Strait of Hormuz was disrupted, creating uncertainty over fuel supplies in the world market.
The OPEC report also said that, alongside Saudi Arabia, other member countries of OPEC+ also increased oil production in October. The alliance's total daily output that month rose to 41,230,000 barrels. In September, production was 2,040,000 barrels lower than that.
OPEC calculated these production figures in its report on the basis of the organisation's secondary sources.
The production increase by OPEC+, the alliance of the world's major oil-producing countries, is important for the international energy market, the report's data shows.
