Saudi Arabia Oil Production Highest in 8 Months

Saudi Arabia’s crude oil production surged 26% to 10.56 million barrels per day in October, its highest level since before the outbreak of the war, as Gulf producers continued restoring supplies despite ongoing regional tensions. Output is now only a few hundred thousand barrels per day below February levels and slightly above the kingdom’s OPEC quota.

The recovery reflects Riyadh’s growing ability to move tankers through the Strait of Hormuz using coordinated shuttle operations, as well as its use of an alternative pipeline to the Red Sea coast despite attacks on the route. Rising exports are increasing the availability of physical crude at a time when consumption remains subdued, raising signs of a potential surplus. The production rebound also comes as OPEC reviews members’ capacity to help determine output limits for 2027.

Saudi Aramco CEO Amin Nasser said the company aims to maximize production in the fourth quarter, expecting inventory restocking to support global demand. Source: Trading Economics

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