Survey: OPEC Sept output rose 420K bpd to 27.31 mbpd

Reuters' influential secondary sources survey

• Nigeria led the increase after an involuntary cut in August
• Compliance with quotas is at 114% vs 115% last month
• Output at highest since April 2020

OPEC's quotas allowed for a 400kbpd increase in Sept and we saw more than that because of Nigerian production coming back online after August outages at the Forcados terminal. Nigeria's output rose 170kbpd in the month.

WTI crude oil is at the lows of the week at $74.14.

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October 01, 2021 at 01:18AM
Adam Button
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