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The Organization of the Petroleum Exporting Countries (OPEC) oil production declined in November after the OPEC+ alliance pledged significant production cuts to support the market amid a deteriorating economic outlook.
Reuters stated that OPEC produced 29.01 million barrels per day this month, down by 710 thousand barrels per day from last October, and its production in September was the highest since 2020.
In its decision for the month of November, OPEC Plus called for a reduction in production by two million barrels per day, of which about 1.27 million is supposed to come from the ten member states of OPEC.
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