Opec-Plus: October Output Falls in Line With Deal

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For Opec-plus, October was a rare month when goals and execution aligned neatly. Crude oil output by the 19 members with a quota fell by 90,000 barrels per day to 38.52 million b/d, just 10,000 b/d shy of the 100,000 b/d cut the alliance had agreed in early September. Factoring in the four members without a quota — Iran, Mexico, Libya and Venezuela — last month’s production amounted to 44.59 million b/d, down 130,000 b/d from September, according to Energy Intelligence’s assessment. The larger decline mainly reflects a slide in Venezuelan barrels.

Crude Oil, Oil Supply, Opec-Plus Supply
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