A recent Bloomberg survey showed that OPEC crude oil production remained virtually unchanged in November, indicating member countries' commitment to the OPEC+ plan to gradually ease voluntary production cuts as the year draws to a close. According to the survey, the organization's output was around 29 million barrels per day last month.
This stability comes at a time of growing concern about the potential for a global oil supply glut next year, which has already impacted price movements, with prices losing nearly 15% since the beginning of 2025, due to investor fears of oversupply and a weak balance between supply and demand.
The Bloomberg survey results are largely consistent with a Reuters survey, which found a slight decrease in OPEC production during November of about 30,000 barrels per day, bringing total production to 28.40 million barrels per day.
These figures combined indicate that the organization is still maintaining relatively stable production levels despite fluctuations in the global market and pressures on oil prices.
