# Oil Prices Fall Below $93 as OPEC+ Restores 97% of Prewar Production

> OPEC's November Monthly Oil Market Report put OPEC+ output at about 41.23 million barrels per day in October, up 2.04 million from September and roughly 97% of February's prewar level. Saudi output rose to 10.563 million barrels per day, and Brent fell below US$93 on November 12.

- Date: 2026-11-12 · published 2026-11-13T00:10:50.814Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/96626-oil-prices-fall-below-93-as-opec-restores-97-of-prewar-production
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Restored OPEC+ supply reduces the risk of a global shortage and pushes crude prices lower. Lower crude costs ease diesel and fertilizer costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.2% | -14.8% |
| BRENT | 2017-11-29 | [Oil supply outages fall as OPEC decides on extension of production restraint agreement Report \| Wood Mackenzie](https://feedsoft.ai/events/67894-oil-supply-outages-fall-as-opec-decides-on-extension-of-production-restraint.md) | -0.7% | +4.2% |
| BRENT | 2018-07-30 | [OPEC Oil Production Hits 2018 High In July \| OilPrice.com](https://feedsoft.ai/events/63954-opec-oil-production-hits-2018-high-in-july-oilprice-com.md) | -2.3% | +0.7% |
| BRENT | 2021-03-31 | [OPEC cuts global oil demand estimates ahead of production decision](https://feedsoft.ai/events/48043-opec-cuts-global-oil-demand-estimates-ahead-of-production-decision.md) | -1.9% | +5.4% |
| BRENT | 2017-03-09 | [WTI oil prices fall below $50 for first time since December](https://feedsoft.ai/events/8365-wti-oil-prices-fall-below-50-for-first-time-since-december.md) | -3.7% | +1.3% |
| WTI | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.8% | -15.7% |
| WTI | 2017-03-09 | [Oil price falls below $50 as U.S. supplies hit record](https://feedsoft.ai/events/8368-oil-price-falls-below-50-as-u-s-supplies-hit-record.md) | -2.9% | +2.3% |
| WTI | 2017-11-29 | [Oil supply outages fall as OPEC decides on extension of production restraint agreement Report \| Wood Mackenzie](https://feedsoft.ai/events/67894-oil-supply-outages-fall-as-opec-decides-on-extension-of-production-restraint.md) | -0.6% | +2.9% |

## Sources

- coinpaper.com: https://coinpaper.com/38732/oil-prices-fall-below-93-as-opec-restores-97-of-prewar-production

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.