◂ Event Timeline

Nov 12, 2026REPORTMiddle East

OPEC: Iraq's oil output jumps 11% in October

Iraq's crude production rose by 489,000 bpd in October to 4.888 million bpd, up about 11.1% from September, according to OPEC data based on official Iraqi figures. Iraq's Oil Ministry said it seeks a higher OPEC+ target than its 4.431 million bpd 2027 allocation while staying within the agreed limit.

WHY IT MATTERS

Higher Iraqi output adds to OPEC supply recovery after the Iran war disruption, which is bearish for crude and, through energy costs, marginally bearish for feed input and freight costs.

AFFECTSCrude Oil (Brent)▼

SOURCE
shafaq.comShafaaq NewsNov 12, 2026

Price reaction & history

Crude Oil (Brent)▼bearish

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.

Oct 31, 2019OPEC October oil output jumps on swift Saudi recovery: Reuters survey By Reuters+2.5%
Oct 30, 2020OPEC oil output rises by 210,000 bpd in October-survey | Financial Post+8.3%
Oct 11, 2018OPEC hikes oil output in September as Iran's production falls-4.2%
Nov 4, 2024OPEC oil output rises in October as Libyan supply rebounds, survey finds | Reuters+0.8%
Jul 12, 2017OPEC's oil output jumps again as the group struggles to end crude glut+2.7%

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.

Crude Oil (Brent) BRENT · GP ▸

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