Have attacks in the strait of Hormuz affected oil production?

Production is recovering despite continued attacks on shipping in the Strait of Hormuz.

According to OPEC+'s monthly report released on Wednesday, the group produced an average of 41.23 million barrels per day (bpd) in October. This was an increase of 2.04 million bpd compared with September. Before the war began in February 2026, average daily production in 2025 stood at 41.98 million barrels.

Gulf producers accounted for most of the recovery. According to secondary sources cited in the report, Saudi Arabia increased its output by approximately 1.18 million bpd to 9.19 million bpd. However, Riyadh reported its own production figure at a higher 10.56 million bpd.

Iraq's daily output increased by 496,000 barrels to 4.49 million bpd, while Kuwait added around 232,000 bpd.

The United Arab Emirates produced slightly more than 4 million bpd, significantly above its 2025 average of 3.17 million bpd.

Meanwhile, Iran's oil production declined further to 1.91 million bpd, compared with an average of 3.26 million bpd last year.

The report said the war had reduced global oil inventories by 537 million barrels between February and September. Tanker freight rates also reached record highs in October, with rates for the largest crude carriers rising to more than 10 times their level a year earlier.

These developments come amid continued tensions in the Strait of Hormuz. Iran reported that several more tankers had struck naval mines this week and insisted that vessels passing through the strait must coordinate their transit with Iranian forces.