Global Energy Dynamics Changes In the publication dated November 12, 2026, OPEC+ reported an increase of approximately 197 thousand barrels per day (bpd) in the producer of condensate. The main reasons for this growth are higher production from Saudi Arabia and Iraq, according to the latest monthly update. Saudi Arabia has recorded significant increases in its condensate production, increasing by 1.18 million bpd up to around 9.19 million bpd. Iraqi output has also been notably elevated, increasing by 496,000 bpd reaching about 4.49 million bpd. Kuwait saw an increase of 232,000 bpd, reaching approximately 2 million bpd.

The production of the United Arab Emirates (UAE), Lebanon, Venezuela, and Gabon has also increased in their benzene production. Significantly, Iran registered the largest decrease in benzene production with a reduction of 44,000 bpd down to approximately 1.91 million bpd. Nigerian production has been reduced by 27,000 bpd to around 1.54 million bpd. Congo's production has been reduced by 15,000 bpd to around 270,000 bpd, while Algeria saw a reduction of 2,000 bpd to around 1 million bpd, and Equatorial Guinea experienced a reduction of 1,000 bpd to 44,000 bpd. Additionally, OPEC+ observed an increase in total benzene producer capacity during October.

This was a small increase in the global energy economics outlook for 2026 and beyond. OEB has maintained its previous annual growth forecasts for global demand for oil products, proposing that non- OECD countries would see an increase of 410, 000 barrels per day (bpd) up to 596. 2 million bpd by 2026, while OECD countries would be expected to lose 230, 000 bpd down to 46. 1 million bpd. For 2027, OEB predicts a growth of 2. 55 million bpd up to approximately 108. 28 million bpd, with non- OECD countries predicted to increase by 2. 01 million bpd to 61. 63 million bpd, and OECD countries predicted to rise by 540, 000 bpd to 46. 64 million bpd.

Saudi Arabia and Iraq have been among the leading contributors to oil production growth, contributing 1. 18 million bpd and 496, 000 bpd respectively.

These data highlight geopolitical tensions and strategic economic policies that influence the world's major producers of coal. A change in coal production is indicative of ongoing changes in the global energy market dynamics, reflecting the continuous evolution between supply and demand on the global energy market. As these complex geopolitical and economic landscapes continue to be addressed, it becomes increasingly important for political and industrial actors to monitor such developments and adapt their strategies accordingly. Increasing coal production highlights the need for continued vigilant monitoring and strategic planning to ensure energy security and global stability.