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Iraq's crude output reached 4.6 million bpd in October, its highest since 2019, according to the IEA's November Oil Market Report. Kuwait and Saudi Arabia also increased output as more crude moved out of the Strait of Hormuz on smaller tankers.
Higher Gulf output and freer Hormuz flows add supply to the market, which tends to weigh on crude and diesel prices and ease energy costs for feed producers.
oilprice.comCharles KennedyNov 13, 2026After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
