Saudi Arabia ramped up its oil output by 26% in October 2026, reaching 10.56 million barrels a day, the highest since before the outbreak of the war.
This big boost helped push global oil prices down by 21%, with Brent crude now at $93 a barrel.
Iraq also hit its own production high, as Gulf countries work to steady the market and fix shaky supply chains.
OPEC+ will deliberate 2027 output
These increases come right as OPEC is rethinking how much oil each member can produce in 2027.
Despite geopolitical hurdles, Gulf nations have kept exports flowing using alternative routes and pipelines.
OPEC checks whether members are sticking to their quotas with outside data, but not everyone's following the rules equally.
Their upcoming OPEC+ meeting on November 29 will deliberate output targets for 2027.