According to Amac News: Based on the Reuters data, this increase occurred following the resolution of political disputes in Libya and the return of production to 1.3 million barrels per day. However, OPEC+ members, who had pledged to reduce supply, kept their production stable.
This comes while the OPEC Secretariat previously announced that the OPEC+ ministerial meeting had been postponed to December 5 due to the presence of ministers from member countries at the Gulf Cooperation Council meeting.
OPEC+ members, which produce half of the world's oil, continue to reduce daily supply by 5.86 million barrels to support the market and prices.
Also, Iranian and Nigerian crude oil production increased by 50,000 barrels. This month, Iraq's oil production has decreased, indicating an effort to adhere to the set quotas.