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OPEC production increased by 930,000 barrels per day in October to 22.8 million, reaching about 88% of members’ February output. Saudi Arabia led the increase, while Iran’s output fell to its lowest level in Bloomberg data since 1989; the added supply helped push crude prices lower.
Rising output from OPEC members adds supply to the global oil market and can weigh on crude prices, partly offsetting losses from Iran and Nigeria.
jarayid.comNov 6, 2026After 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.
After 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.
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.
