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OPEC+ Production Rises in September: Platts Survey

OIL

OPEC+ boosted crude production by 170,000 b/d in September to the group's highest since April 2020, according to the latest Platts survey.

  • OPEC's 13 countries produced 29.75 million b/d, a rise of 190,000 b/d from August, while Russia and eight other allies added 13.26 million b/d, down 20,000 b/d.
  • Russia, is the biggest laggard to its quota, with its September production at 9.77 million b/d—about 1.26 million b/d below target.
  • Saudi Arabia, which co-chairs the OPEC+ alliance with Russia, pumped 11.02 million b/d, close to its quota and an increase of 100,000 b/d from August.

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