Saudi production rose from 8.372 million bpd in September. The kingdom had reported 10.882 million bpd in February, the final month before the Iran war disrupted Middle East supply, Reuters reported. Saudi official data put market supply, excluding oil sent to storage, at 9.203 million bpd, Blas said.

Saudi Aramco exports crude through Persian Gulf terminals and the East-West pipeline to Yanbu on the Red Sea. An attack on the pipeline on Monday sparked a limited fire, which emergency crews extinguished without disrupting operations, Saudi Arabia’s Energy Ministry said.

OPEC’s monthly report, based on secondary sources, showed total OPEC+ crude output rising by 2.04 million bpd in October to 41.23 million bpd. Iran produced about 1.91 million bpd, its lowest level in 40 years, an OPEC source told Swedish news agency TT; a U.S. naval blockade had kept Iranian exports shut in.

Iraqi Oil Minister Basim Mohammed Khudair said last week that Iraq was producing more than 5 million bpd, above its OPEC+ target of 4.431 million bpd. The Oil Ministry later reaffirmed its commitment to the ceiling and said October output had increased, but gave no figure. The International Energy Agency estimated Iraq’s September production at 4.1 million bpd.

OPEC+ is reviewing members’ maximum production capacity ahead of a November 29 ministerial meeting to set 2027 output targets. Iraq wants its baseline to reflect capacity of around 6 million bpd. Brent crude rose 1.4% to $92.73 a barrel and WTI gained 1.3% to $87.13 at 9:27 a.m. ET on Wednesday. Reuters reported that attacks on shipping in the Strait of Hormuz were offsetting hopes for a U.S.-Iran truce.