OPEC: The deficit continues to decrease, demand estimates unchanged.
In the monthly OPEC review, the global demand estimates for 2026: 105.72 million bps (+0.18 million bps), 2027: 108.28 million bps, that is +2.55 million bps, are maintained.
In October, the Saudis (+1.182 thousand bps) and Iraq (+496 thousand bps) increased their volumes. Iran's production decreased (44 thousand points per second).
Russia: Oil output last month amounted to 8.668 million NIS compared to 8.627 million shekels (+41 thousand shekels). We remind you that our quota is 9.95 million bps.
Balance: Oil demand from OPEC+ countries in October was 43.6 million bpd, the cartel produced 41.23 million bpd, so the deficit was 2.37 compared to 3.63 bpd a month earlier.
MMI.