Vienna-Sana
A Reuters survey showed today that OPEC oil production fell in October for the first time since June, due to lower exports from African members, and lower production from some producers in the Gulf, after the broader OPEC Plus alliance pledged a slight production cut.
The survey found that the Organization of the Petroleum Exporting Countries pumped 29.7 million barrels per day last month, down 20,000 barrels per day from September and the highest production since April 2020.
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, boosted production for most of the year to cancel cuts they made in 2020.
The group returned to reducing production, and later decided to make a larger reduction in October with weak oil prices amid fears of recession.
Its decision in October called for a cut in the group's production target of 100,000 barrels per day.
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