Rise in OPEC oil production

摘要

Crude oil production from the 12 members of OPEC rose by 140,000 b/d to 29.17mn b/d in October due to higher volumes from Angola and Nigeria, according to a Platts survey of OPEC and oil industry officials and analysts. 'With oil prices now brushing against S90/b, this added supply is certainly good news for consumers,' said John Kingston, Platts Global Director of News. 'The question now is whether the Saudis, who hold the greatest amount of unused capacity, turn loose some of that oil into the market. If they believe that the price increase is a result of a declining dollar, then they may not believe that more oil supply is the remedy.'