OPEC Oil Output Edges Higher In October On Iraq Gains

OPEC oil production edged slightly higher in October from September, rising by 140,000 b/d to 30.19mn b/d from 30.05mn b/d in September as Iraq resumed production at levels not seen since March, according to MEES estimates. Production by the OPEC-10 (OPEC without Iraq) increased by a more modest 40,000 b/d, reflecting the close-to-capacity position of most member countries.

The fact that there has been little change in output levels for...