Oil production by OPEC+ rose sharply in October and is approaching levels seen before the US-Israel war on Iran, according to the group’s monthly report, despite continued attacks on shipping in the Strait of Hormuz.
The expanded Organization of the Petroleum Exporting Countries, which includes Russia, pumped an average of 41.23 million barrels per day (bpd) in October, up 2.04 million bpd from September, according to secondary sources cited in the report released on Wednesday. That compares with an average of 41.98 million bpd in 2025, before the war broke out in February.
Gulf producers drove the recovery. Saudi Arabia’s output rose by about 1.18 million bpd to 9.19 million bpd, according to secondary sources, although Riyadh reported its production at 10.56 million bpd. Iraq’s production rose by about 496,000 bpd to 4.49 million bpd, while Kuwait added about 232,000 bpd.
The UAE pumped just over 4 million bpd, well above its 2025 average of 3.17 million bpd.
Iran’s output, by contrast, fell further to 1.91 million bpd, down from an average of 3.26 million bpd last year.
The report said the war had drained global oil stocks by 537 million barrels between February and September. Tanker rates hit records in October, with rates for the largest crude carriers more than 10 times higher than a year earlier.
The recovery comes as tensions remain high in the Strait of Hormuz, with Iran reporting more tankers striking naval mines this week and insisting that any transit must be coordinated with its forces.
https://aje.news/1meubo?update=5144485