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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
OPEC+ crude oil output rose by 180kbpd month on month in October to 42.71mbpd, amid higher output from Iraq and Iran according to the latest Platts survey.
- OPEC 13 production rose by 130kbpd on the month to 27.89mbpd in October.
- The OPEC+ quota shortfall last month narrowed to 827kbpd, including voluntary cuts, as African members continue to struggle to hit their targets.
- Saudi Arabian crude output was mostly steady on the month at 9mbpd, in line with the Kingdom’s pledged cuts.
- Russian crude production increased edged slightly higher last month to 9.45mbpd.
- Iraq increased production by around 90kbpd to 4.4mbpd in October, as oil companies in the Kurdistan region ramped up output.
- Crude output from Iran also increased by 40kbpd on the month to 3.05mbpd in October.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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