OPEC+ Output Rises 2.04 mb/d in October
Saudi Arabia drove most of the October increase in crude production among OPEC+ countries, according to the OPEC November report.
Updated on Nov. 12, 2026 in Oil and Gas
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OPEC+ crude production rose by about 2.04 mb/d in October compared with September, with Saudi Arabia raising output by 1.18 mb/d, the largest contribution. Total Declaration of Cooperation crude output averaged 41.23 mb/d that month.
Why it matters
The rise shows producers returning barrels to the market and affects global supply balances at a time when Strait of Hormuz shipping and regional tensions are weighing on prices. Forecasts of rising 2027 demand suggest supply decisions will remain closely watched.
Saudi Arabia's October output is reported as 9.19 mb/d from secondary sources and 10.56 mb/d from direct communication, a gap the OPEC data does not reconcile. Iraq reached 4.49 mb/d after adding 496,000 barrels per day, and Brent futures traded near $91.62 per barrel.
The players
OPEC
The Organization of the Petroleum Exporting Countries is an intergovernmental group of major oil-producing states that coordinates petroleum production policy among its members.
The details
OPEC's November Monthly Oil Market Report recorded Iraq adding 496,000 barrels per day and Kuwait adding 232,000 barrels per day, bringing Kuwait close to 2 million barrels per day. Non-OPEC Declaration of Cooperation producers added 70,000 barrels per day, lifting their output to 14.07 mb/d.
Timeline
2025: Declaration of Cooperation output averaged 41.98 mb/d.
Second quarter 2026: output fell to 34.29 mb/d.
Third quarter 2026: output improved to 38.35 mb/d.
October 2026: OPEC+ crude output rose 2.04 mb/d.
Thursday, November 12, 2026: oil prices eased on diplomatic expectations.
Market Landscape
The October increase follows a sharp drop to 34.29 mb/d in the second quarter of 2026 and a partial recovery to 38.35 mb/d in the third quarter, placing the rebound within a volatile supply cycle. Its scale relative to recent quarters shows producers restoring barrels faster than the earlier decline.
Higher crude output can ease pump and fuel prices for consumers if demand holds, though the outlook depends on regional supply disruptions. Households and businesses that rely on fuel costs will feel changes in global crude pricing rather than any immediate local shift.
The takeaway
Monthly production figures can differ sharply depending on whether they come from secondary sources or direct national reporting, so readers should check which measure underlies any headline number. Tracking both helps show the real direction of supply.
Further reading
For more on supply trends, see the Oil and Gas section.
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