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OPEC crude production rose by 930,000 barrels per day in October to 22.8 million barrels per day, about 88% of the same members’ February output, according to a Bloomberg survey. Saudi Arabia accounted for most of the increase, while gains in Iraq and Kuwait were partly offset by declines in Nigeria and Iran.
Higher OPEC output adds supply to the global oil market and could weigh on crude prices, although conflict-related constraints continue to limit production and shipping in parts of the region.
bloomberglinea.comGrant Smith, Julian LeeNov 6, 2026After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% 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.
