OPEC has once again failed to hit its target production level, falling 34,000 bpd short Both Saudi Arabia and Iraq saw production increases in line with the target OPEC+ meets on Thursday and an increasing number of analysts believe they will halt the production increases OPEC continued to raise its oil production in November under the OPEC+ deal, but the cartel continued to pump less crude than its share of the monthly increase, the monthly Reuters survey found on Tuesday. Under the OPEC+ deal, the ten OPEC members bound by the OPEC+ pact should be raising their combined production by 254,000 barrels per day (bpd) each month out of the total OPEC+ monthly supply addition of 400,000 bpd. In November, OPEC’s crude oil production increased by 220,000 bpd to 27.74 million bpd, according to the Reuters survey. The rise, once again, fell short of the 254,000-bpd increase that OPEC […]