The oil-focused website “Oil Price” reported today, Wednesday, on OPEC’s monthly oil market report, revealing that crude oil production from all member states increased by 104,000 barrels per day in November compared to October.
The report highlighted that OPEC’s total crude oil production averaged 26.66 million barrels per day last month, driven by increased production in Libya, Iran, and Nigeria, according to secondary sources used by OPEC to track market supplies.
The website emphasized that among the three countries with the highest production increases in November compared to the previous month, Libya and Iran were exempt from OPEC production cuts due to political instability and Western sanctions.
It also noted that Libya’s crude oil production rose by approximately 141,000 barrels per day, reaching 1.238 million barrels per day, according to OPEC’s secondary sources.
