Iraq's October crude output hits 4.6 million bpd, highest since 2019

Key facts

• Iraq's October output of 4.6 million bpd topped its OPEC+ quota by about 170,000 bpd, per IEA data.
• Kuwait's October output of 2.03 million bpd left it about 650,000 bpd short of its OPEC+ ceiling, per the IEA.
• The IEA estimated Saudi Arabia produced 480,000 bpd below its OPEC+ quota in October.
• Saudi Arabia told OPEC it pumped 10.563 million bpd in October, slightly above its quota of about 10.5 million bpd.
• Saudi Arabia said part of its output increase went into storage, so supply to the market rose less than production.
• Crude flows through the Strait of Hormuz increased since August via shuttle shipments onto supertankers in the Gulf of Oman.

Iraq's crude oil production reached 4.6 million barrels per day in October, the highest since 2019, according to data in the International Energy Agency's Oil Market Report for November published on November 13, 2026. The figure was up 540,000 bpd from September and about 170,000 bpd above Iraq's OPEC+ quota, the IEA data showed.

Kuwait raised output to 2.03 million bpd in October from 1.58 million bpd in September, leaving it about 650,000 bpd short of its OPEC+ ceiling, per the IEA. The agency estimated Saudi Arabia, OPEC's top producer and de facto leader, raised output by about 1 million bpd to 9.99 million bpd from 8.93 million bpd, still 480,000 bpd below its quota.

Saudi Arabia told OPEC it pumped 10.563 million bpd in October, slightly above its quota of about 10.5 million bpd. The kingdom said part of the increase went into storage, so its supply to the market did not rise as much as production. Saudi supply to the market was 7.122 million bpd in August, 7.988 million bpd in September and 9.2 million bpd in October, while production was 6.238 million bpd, 8.372 million bpd and 10.563 million bpd over the same months.

Gulf producers have raised output in recent weeks as crude flows through the Strait of Hormuz increased significantly since August, with shuttle shipments carrying oil through the chokepoint before transfer onto supertankers in the Gulf of Oman.