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OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
OPEC reported that oil production has moved close to levels seen before the Iran war, led by a sharp recovery in Saudi output even as regional shipping disruptions continue. The group left its broad demand and supply outlook largely unchanged.
OPEC reported that oil production has moved close to levels seen before the Iran war, led by a sharp recovery in Saudi output even as regional shipping disruptions continue. The group left its broad demand and supply outlook largely unchanged.
Higher production could ease some pressure on energy markets, although geopolitical and transport risks remain significant. OPEC expects Qatar, Canada, Brazil and Argentina to lead growth in energy-related liquids during 2027 and sees resilient non-oil demand supporting the Middle East.
(W.Walker--TAG)
