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Kuwait increases oil output in October

Kuwait increases oil output in October
Kuwait's oil production rose to 2.674 mbpd

Mubasher: Kuwaiti oil production grew by 16,000 barrels per day (bpd) in October, according to the OPEC monthly report. 

The GCC country’s oil output rose to 2.674 million bpd last month, compared to 2.658 million bpd, the report revealed.  

Saudi Arabia, the world’s biggest oil exporter, saw its production rising by 1.174 million bpd to 10.303 million last October, while the UAE pumped 23,000 bpd more during the month, with an overall output of 3.106 million bpd.

In Venezuela, oil output totalled 687,000 bpd in October, climbing by 42,000 bpd month-on-month.

OPEC production averaged 29.65 million bpd, edging up by 943,000 bpd, the producer club said in its closely watched monthly oil market report.