Mubasher: Member states of the Organization of the Petroleum Exporting Countries (OPEC) pumped lower number of barrels in November, before an agreement on deeper cuts last week.

The 14-member group’s crude production averaged 29.551 million barrels per day (bpd), falling by 193,000 bpd, the producer club said in its closely watched monthly oil market report (OMR), which is based on independent sources.

The declines were led by Saudi Arabia, the group’s biggest producer, which cut its output by 151,000 bpd to 9.850 million bpd.

Angola slashed its production by 75,000 bpd to 1.284 million bpd, the report showed.

However, Ecuador, which is due to exit the group next year, raised its production by 73,000 bpd, while Kuwait stepped up its production by 58,000 to 2.705 million bpd.

The group members and non-affiliated producers, including Russia, an alliance known as OPEC+, agreed laster to cut production by more 500,000 bpd to 1.7 million bpd.

By 2:18 am GMT, US Nymex crude futures fell by 0.35% to $59.03 per barrel (pb), while global benchmark Brent futures fell by 0.53% to $64 pb.