Highlights OPEC boosts output by 300,000 b/d Non-OPEC allies lift production by 200,000 b/d Saudi Arabia, Kazakhstan, Iraq, Nigeria post steady gains OPEC+ quota compliance dips to 112.31% OPEC and its allies boosted crude oil production by 500,000 b/d in November, with 80% of the increase attributed to five members – Saudi Arabia, Russia, Iraq, Kazakhstan and Nigeria — according to the latest S&P Global Platts survey.
OPEC’s 13 countries pumped 27.85 million b/d, up 300,000 b/d from October, while Russia and eight other partners produced 13.86 million b/d, up 200,000 b/d, the survey found. The collective OPEC+ output of 41.71 million b/d was the group’s highest in 19 months, but still 4.15 million b/d below what it pumped in April 2020, when Saudi Arabia and Russia launched an oil price war. This comes as […]