Opec-Plus: Crude Output Touches Post-Pandemic High

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September’s crude oil production by Opec-plus amounted to 44.84 million barrels per day, the highest level since April 2020 when the alliance agreed to a nearly 10 million b/d reduction in output to combat the pandemic-induced collapse in demand. On a quarterly basis, crude output in July-September by all 23 members was 44.56 million b/d, nearly 150,000 b/d over the first quarter of 2020, or just before Covid-19 wreaked havoc on global markets. The core difference is that Libya produced only 360,000 b/d then, as opposed to nearly 1.1 million in the last quarter.

Opec-Plus Supply , Crude Oil, Oil Supply
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