Oil prices drop below $93, OPEC + restores 97% of pre-war production
2026-11-12 20:21:54
According to CoinMeta, oil prices fell below $93 on November 12. Crude oil production OPEC has recovered to 41.23 million barrels per day, reaching 97% of pre-war levels. The trading price of Brent crude oil futures is around $92.39 per barrel, a decrease of 0.4%. WTI (West Texas Intermediate) crude oil WTI fell by 0.43%, to $86.16. The monthly oil market report for November OPEC shows that production OPEC in October increased by 2.04 million barrels compared to September, reflecting rapid changes in regional supply conditions. Saudi Arabia's production in October was 10.563 million barrels per day, an increase of 219,000 barrels from September's 8.372 million barrels, representing a monthly growth of 26%. Although OPEC has maintained its production targets for December, the rebound in production has put downward pressure on crude oil prices.
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Source:Coinpaper
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