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OPEC+ crude output with monthly quotas fell 63,000 b/d in October to 38.57 million b/d, according to Energy Intelligence. Output was 3.5 million b/d below the alliance target, with Russia and Nigeria accounting for 60% of the shortfall.
The article frames October as a quiet month before the larger cut planned for November and December.
A wide gap between OPEC+ targets and actual output means the planned November cut may tighten supply less than headline figures suggest. Crude price effects are likely limited until compliance changes.
energyintel.comAuthor Gary Peach, New York Editor Gary PeachNov 8, 2022After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
