OPEC+ Oil Output Hits Highest Level Since April 2020 But Remains Below Target

The OPEC+ group’s crude oil production rose in September to the highest level since the Saudi-Russia price war of April 2020, but producers in the pact remained a massive 3.6 million barrels per day (bpd) below their collective output quota, the Platts survey by S&P Global Commodity Insights showed. OPEC+ lifted their combined production last month by 170,000 bpd, with Saudi Arabia and Iraq boosting output, but Nigeria and Angola pumped the lowest volumes in 34 years of Platts surveys. Despite OPEC+ production hitting its highest level…