OPEC oil output has risen in September from the month before, a Reuters survey found on Wednesday, as Iraq’s northern exports recovered from disruption that had halted supply growth from the group’s second-largest producer.

Saudi Arabia and other Gulf members of the Organization of the Petroleum Exporting Countries have kept output mostly steady, a further sign they are sticking to their focus on defending market share instead of prices.

OPEC supply has increased in September to 31.68 million barrels per day (bpd) from a revised 31.57 million in August, according to the survey, based on shipping data and information from sources at oil companies, OPEC and consultants.

With the increase in supply this month, OPEC has boosted production by almost 1.5 million bpd since it switched in November 2014 to defending market share from its previous policy of cutting output to prop up prices.

 


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