OPEC Monthly Report: Second-hand data shows that OPEC crude oil production increased by 1.96 million barrels per day in October to 27.16 million barrels. OPEC+ crude oil production increased by 2.03 million barrels per day in October to 41.23 million barrels. The US economic growth forecast for 2026 was raised to 2.3%, compared to 2.2%; the US economic growth forecast for 2027 was raised to 2.1%, compared to 2% previously. The Eurozone economic growth forecast was raised to 1.1% in 2026, compared to 0.8%; the 2027 Eurozone economic growth forecast was raised to 1.1%, compared to 1% previously. The 2026 supply growth forecast for non-OPEC+ oil producers remains unchanged, with an estimated increase of 640,000 barrels per day. Keep the 2027 non-OPEC+ oil supply growth forecast unchanged, with an estimated increase of 620,000 barrels per day.

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