OPEC Oil Output Declines in November Following Declared Cuts.

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According to the survey, OPEC produced 29. 01 million barrels per day (bpd) in November, which is 710,000 bpd less than in October. The output of OPEC reached its highest level in September since 2020.

The survey discovered a 720,000 bpd decrease in output from the 10 members, 800,000 bpd below the group’s target output for November.

There won’t likely be any changes made when OPEC+ virtually meets to review its output policy.

In November, Angola and Nigeria both increased output, but the survey revealed that both countries are still far below their quotas.

Reuters.

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