Russia increases oil production by 41,000 bpd in October — OPEC

Baku, November 11, AZERTACCrude oil production by the Organization of the Petroleum Exporting Countries (OPEC) rose by approximately 1.97 million barrels per day in October, driven mainly by higher output in Saudi Arabia and Iraq, Anadolu Agency reported citing the group's latest monthly report.OPEC's total crude output reached around 27.16 million bpd in October.Saudi Arabia recorded the largest monthly increase, with production rising by 1.18 million bpd to approximately 9.19 million bpd.Iraq's output climbed by 496,000 bpd to 4.49 million bpd, while Kuwait increased production by 232,000 bpd to around 2 million bpd.Production also rose in the United Arab Emirates (UAE), Libya, Venezuela and Gabon. Output increased by 91,000 bpd in the UAE to 4.01 million bpd, by 36,000 bpd in Libya to 1.33 million bpd, by 11,000 bpd in Venezuela to 1.16 million bpd and by 5,000 bpd in Gabon to 212,000 bpd.Iran recorded the largest decline, with production falling by 44,000 bpd to approximately 1.91