Saudi Arabia's October crude oil production at 10.563 million barrels per day... up 26.2% from September

Saudi Arabia produced 10.563 million barrels per day of crude in October, up 2.191 million bpd from September's 8.372 million bpd, according to figures the kingdom submitted for OPEC's November monthly oil market report. The October level was the highest since February's 10.882 million bpd, with output having bottomed at 6.238 million bpd in August. Market supply, a separate measure from production, rose to 9.203 million bpd from 7.988 million bpd in September. The rebound matters because it restores a large share of the supply that Riyadh withheld earlier in the year, and the next signals to watch are whether OPEC's secondary-source estimates corroborate the self-reported figures and whether November output holds near the February level.