Overview
- OPEC's November report says global oil supply is expected to match demand in 2026.
- OPEC+ output fell by 73,000 barrels per day in October to 43.02 million bpd, led by a drop in Kazakhstan.
- A Reuters calculation based on OPEC figures implies a marginal 20,000 bpd surplus next year if October production levels persist.
- OPEC's monthly projections have shifted from a 700,000 bpd shortfall in September to a 50,000 bpd deficit last month.
- OPEC said the world economy’s growth trend remained firm.