NEW YORK, Nov. 10 (UPI) -- Crude oil production from 10 members of the world's oil cartel that say they observe output quotas fell last month, a U.S. analytical firm said.
The Organization of Petroleum Exporting Countries nation's who are, at least publicly, committed to observing quotas produced 27.73 million barrels per day in October, down 80,000 barrels per day from September, Platts said Friday.
Including Iraq, which does not participate in output pacts and whose output fluctuates dramatically, total OPEC output was 29.75 million barrels per day in October compared with 29.95 million barrels per day in September, the survey showed.
"As the latest estimates show, OPEC-10 production levels have not changed much in October," said John Kingston, a Platts oil analyst. "The big question now is whether the group will be able to achieve anything like the 1.2 million barrel per day cut it has pledged to implement from the beginning of November. One of the difficulties for OPEC watchers is the fact that few countries have given precise details of how they are going to cut production."
