Oil production nears pre-Iran war levels, OPEC says

What the report says

OPEC said in a monthly report on Wednesday that Saudi Arabia’s crude production climbed in October to its highest level since the war with Iran disrupted regional supply routes earlier in the year. The producer group said Saudi output reached 10.563 million barrels per day, sharply higher than in September and close to the levels seen before the conflict. The increase, together with higher Russian production, helped lift overall OPEC+ output to 41.23 million barrels per day, according to the report.

The article said the rise reflects how major Gulf exporters have been using alternate transport methods and pipeline routes to keep oil moving despite continued shipping disruptions and attacks on infrastructure. It noted that Saudi exports have held up in part because of the East-West Pipeline, while the United Arab Emirates also retains an export route that avoids the Strait of Hormuz. At the same time, the report said Japan’s crude imports fell in September because of renewed trade disruptions.

Al Jazeera reported that OPEC kept its demand-growth forecasts unchanged after several previous cuts. The group expects global oil demand to rise next year, while also maintaining its outlook for 2027. The findings matter because oil supply, shipping security and the status of the Strait of Hormuz remain central to global energy prices, inflation pressures and regional economic stability.