OPEC's crude oil production increased for the second consecutive month in September due to higher outputs from Nigeria and Iran, even as Saudi Arabia continued its cut.
Start Trading CFDs Over 2,200 Different InstrumentsStart Trading CFDs Over 2,200 Different Instruments3 days5 daysNigeria upped its production by 110,000 bpd, while Iran's output reached its highest since 2018, exempt from OPEC+ cuts because of U.S. sanctions.
All OPEC members produced 27.73 million bpd in September, as Nigeria and Iran boosted production the most, according to the survey based on vessel-tracking data, consultants, and sources at OPEC and oil firms. In the middle of August, a senior Iranian government official was quoted as saying that crude oil exports from Iran had gone The rises in Nigerian and Iranian production offset a large part of the cuts from Saudi Arabia, which is estimated to have kept its oil output in line with the pledge to pump around 9 million bpd in September, the Reuters survey found. Official OPEC figures for the September production are due out on October 12 in the Monthly Oil Market Report.
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