Updated

Updated · CNBC · Nov 13

Russia Lifts Crude Output to 8.73 Million BPD as Global Oil Supply Swells 2.3 Million

Updated

Updated · CNBC · Nov 13

Russia Lifts Crude Output to 8.73 Million BPD as Global Oil Supply Swells 2.3 Million

1 articles · Updated · CNBC · Nov 13

Russian crude production jumped 210,000 barrels a day to 8.73 million in October, helping push the global oil market into surplus for the first time since the Iran war began, the IEA said.
Global supply reached 105.4 million barrels a day, up 2.3 million from September and 5.3 million since August, while observed stocks rose 52 million barrels in October.
Diesel remains tight even as crude supply rebounds: the IEA said attacks on Russian energy infrastructure and Middle East disruptions are still choking refined-product exports.
Trump's Oct. 9 deal with Vladimir Putin to supply diesel to world markets was followed by a U.S. license allowing certain Russian-origin diesel transactions through April 7, 2027.
The IEA raised its fourth-quarter supply estimate by 3.3 million barrels a day, with growth from the U.S., Canada, Brazil, Argentina and Guyana offsetting losses and supporting a 2027 increase forecast of 6.6 million.

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With crude in surplus but diesel dangerously scarce, is the world quietly slipping into a hidden winter energy crisis?

Will the unexpected diesel pact between the U.S. and Russia stabilize global markets or permanently empower shadow fleets?

How is Russia achieving record fossil fuel revenues despite crippling sanctions and continuous attacks on its infrastructure?

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