OPEC increases oil production by 7.8% in October

A oPEC oil production rose in October to 27.16 million barrels per day, plus 7.8% or 1.96 million barrels per day than in the previous month, was announced today.

However, these estimates of independent sources, published today by the Organisation of Petroleum Exporting Countries (OPEP) in the monthly report, reveal that the extraction of the group of eleven countries was still 5% below the pre-war level.

The document reflects the progressive recovery of oil supply from the ‘petrostates’ of the Persian Gulf, which had fallen dramatically in March after the start of the conflict, although the transit of commercial ships through the Straits of Ormuz (Persian Gulf) and Bab el Mandeb (Red Sea) remains disturbed.