OPEC+ Output Reaches Pre-Conflict Levels

OPEC+ oil production recorded a significant jump in October. The total volume reached 41.23 million barrels per day during the period.

The result represents a growth of 2.04 million barrels per day compared to September. The current level is equivalent to 97 percent of the volume recorded in February.

Saudi Arabia was primarily responsible for this movement. The country raised its supply to 10.56 million barrels per day, an increase of nearly 26 percent from the previous month.

Iraq and Russia also increased their production despite logistical challenges. Export flows continue to bypass obstacles through alternative routes and ship-to-ship transfers due to risks in the Strait of Hormuz.

The increase in global energy supply may pressure commodity prices downward and reduce inflationary pressure on the dollar. This scenario alters the risk perception for high-volatility assets like Bitcoin by affecting global liquidity.