Saudi crude output jumps 26 percent to pre-war level

Saudi Arabia told OPEC its crude production rose 26 percent in October to 10.563 million barrels a day, the highest since February and slightly above its quota of about 10.5 million.

Why it matters: The Saudi rebound leads a regional supply recovery that is pushing oil prices down even as Hormuz shipping remains under attack, and it lands weeks before the November 29 OPEC+ meeting that sets 2027 targets.

Data as of OPEC monthly oil market report for October 2026, released November 11, 2026, as reported by Bloomberg (opening read in full; the balance of that article is paywalled) and by OilPrice.com, read in full, citing Reuters reporting of the same OPEC figures and Javier Blas. Saudi direct communication to OPEC; the OPEC+ total is the report's secondary-source estimate. Developing item.

Saudi Arabia told OPEC that its crude production climbed 26 percent in October to 10.563 million barrels a day, up from 8.372 million in September and the highest since February, when it reported 10.882 million in the last month before the war disrupted Middle East supply. The October figure sits slightly above the kingdom’s OPEC quota of about 10.5 million barrels a day, while Riyadh’s official data put supply to the market, net of storage, at 9.203 million, with the rest of wellhead output going into storage.

The wider report points the same way. OPEC’s monthly report, on secondary sources, put total OPEC+ crude output at 41.23 million barrels a day in October, up 2.04 million from September, while Iran pumped about 1.91 million barrels a day, its lowest in 40 years, as the US naval blockade kept its exports shut in. OPEC+ is reviewing each member’s maximum capacity ahead of a November 29 ministerial meeting that will set 2027 output targets.

Saudi crude output jumps 26 percent to pre-war level

Sources