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Chart of the Day: OPEC Production Increased in November

Summary

OPEC crude oil production increased in November for the second month in a row as shown in Figure (1). November production is back where it was in November 2023 and where it was this past summer.

EOA’s Main Takeaway

Reuters published this story this morning: OPEC Oil Output Rises in November as Libya Recovers, Survey Finds

Our readers were a day ahead of the curve. We focused on this increase yesterday when we talked about OPEC+ and showed an increase in the exports of Saudi Arabia, Libya, Iran, and Nigeria while exports of Iraq declined, reflecting changes in production accordingly.