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OPEC Production Rises to 27.73mn bpd September: Reuters Survey

OIL

OPEC crude output rose for a second straight month in September according to a Reuters survey, pushed higher by Nigerian and Iranian exports.

  • The survey placed OPEC production at 27.73 mn bpd in September, up 120,000 bpd from August.
  • Nigeria production was boosted 110,000 bpd m/m in September.
  • Iranian production hit a new post 2018 sanction high of 3.15mn bpd in September.
  • Saudi Arabia kept August and September output close to 9 million bpd.
  • Output from the 10 OPEC members that are subject to OPEC+ supply cut agreements rose by 80,000 bpd according to the survey.

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