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OPEC+ crude output rose to 41.23 million barrels per day in October, nearly matching pre-Iran war levels, led by a 26% jump in Saudi production to 10.56 million barrels per day. Iraq, Russia, Kazakhstan and Nigeria also reported increases, according to OPEC's monthly report.
A near-full recovery in OPEC+ supply eases the energy shock from the Strait of Hormuz disruption, pressuring crude prices and reducing cost support for diesel, fertilizer and biofuel-linked feed inputs.
arabnews.comAsharq Al-AwsatNov 12, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 51 past bearish geopolitics events, ULSD / Diesel moved a median -2.4% over 5 sessions (37% higher; middle half -8.2% to +3.9%), and -2.3% 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.
