WASHINGTON (dpa-AFX) - OPEC oil production rose sharply in September, driven by a significant increase in Saudi Arabian output despite continued disruptions to shipments through the Strait of Hormuz linked to the Iran war.
The group, which includes OPEC members and allies such as Russia, produced an average 39.07 million barrels per day in September, up about 900,000 barrels per day from August. Saudi Arabia reported production of 8.372 million barrels per day, an increase of more than 2 million barrels per day from the previous month.
Russia, meanwhile, saw production decline by 38,000 barrels per day amid Ukrainian attacks on its energy infrastructure.
OPEC also lowered its 2026 global oil demand growth forecast again. Secretary General Haitham Al Ghais said demand growth is now expected at 400,000 barrels per day, down from a 1.4 million-barrel-per-day forecast at the start of the year.
OPEC expects some deferred demand to emerge in 2027 as inventories are replenished following this year's supply disruptions.
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