Saudi Arabia's oil production dropped sharply and daily supply growth forecast

The Organization of Petroleum Exporting Countries (OPEC) announced that Saudi Arabia, the world's largest oil exporter, lost 660,000 barrels of crude oil a day in September to 9.13 million barrels a day, due to the impact of the attack on oil facilities. The monthly OPEC report shows that Saudi Arabia's daily oil production has declined even more, falling by as much as 1.28 million barrels a month and by 8.56 million barrels a day. In September, the overall daily oil production decreased by 1.32 million barrels a month to 28.49 million barrels a day. OPEC lowered its global economic growth forecast from 3.1% to 3% next year, as the possibility of a slowdown in U.S. economic growth continues to rise until next year. At the same time, the daily supply growth forecast for non-oil group was lowered to 2.2 million barrels next year. The oil group also lowered its global economic growth forecast for next year to 3%, 0.1 percentage points lower than the previous value.