OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds
Published . Updated .
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OPEC production rose 930,000 barrels a day in October to 22.8 million, about 88% of February levels, a Bloomberg survey shows
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund-5.0% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- ITA iShares U.S. Aerospace & Defense ETF+1.1% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- KSA iShares MSCI Saudi Arabia ETF-8.2% 30d
iShares MSCI Saudi Arabia ETF holds stocks listed in Saudi Arabia, which this story is about (“saudi”).
- XOM ExxonMobil Holdings-2.7% 17d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+5.5% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- COP ConocoPhillips+3.9% 19d
ConocoPhillips (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +13.96% | +6.75% | base | -0.69% | after close | after close | after close |
| XLE | +13.47% | +8.12% | base | +0.17% | after close | after close | after close |
| ITA | +2.67% | +5.93% | base | +0.85% | after close | after close | after close |
| BWET | +38.94% | +24.54% | base | +0.00% | after close | after close | after close |
| KSA | -1.92% | -1.80% | base | +0.29% | after close | after close | after close |
| XOM | +13.27% | +7.37% | base | +0.21% | after close | after close | after close |
| CVX | +10.62% | +5.78% | base | +0.03% | after close | after close | after close |
| COP | +13.68% | +6.58% | base | +0.55% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds Quartz
Source: Quartz
Price since this story was published: United States Oil Fund (USO)
| Company | When | Move | Status |
|---|---|---|---|
| Amplify Commodity Trust (BWET) | that day | 0.00% | still updating |
| Amplify Commodity Trust (BWET) | three days earlier | +24.54% | final price |
| Amplify Commodity Trust (BWET) | five days earlier | +38.94% | final price |
| Conocophillips (COP) | that day | +0.55% | still updating |
| Conocophillips (COP) | three days earlier | +6.58% | final price |
| Conocophillips (COP) | five days earlier | +13.68% | final price |
| Chevron (CVX) | that day | +0.03% | still updating |
| Chevron (CVX) | three days earlier | +5.78% | final price |
| Chevron (CVX) | five days earlier | +10.62% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | that day | +0.85% | still updating |
| IShares U.S. Aerospace & Defense ETF (ITA) | three days earlier | +5.93% | final price |
| IShares U.S. Aerospace & Defense ETF (ITA) | five days earlier | +2.67% | final price |
| Ishares Msci Saudi Arabia Etf (KSA) | that day | +0.29% | still updating |
| Ishares Msci Saudi Arabia Etf (KSA) | three days earlier | -1.80% | final price |
| Ishares Msci Saudi Arabia Etf (KSA) | five days earlier | -1.92% | final price |
| United States Oil Fund (USO) | that day | -0.69% | still updating |
| United States Oil Fund (USO) | three days earlier | +6.75% | final price |
| United States Oil Fund (USO) | five days earlier | +13.96% | final price |
| Select Sector Spdr Tr (XLE) | that day | +0.17% | still updating |
| Select Sector Spdr Tr (XLE) | three days earlier | +8.12% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +13.47% | final price |
| ExxonMobil Holdings (XOM) | that day | +0.21% | still updating |
| ExxonMobil Holdings (XOM) | three days earlier | +7.37% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +13.27% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 23 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 67 days before publication. Filed 25 Sep 2026. View the filing.
- Rep. Pete Sessions sold Chevron (CVX), worth $15,001 - $50,000 on 14 Oct 2026. That is 23 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 44 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 65 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 26 Aug 2026. That is 72 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Conocophillips (COP) (held by a spouse), worth $1,001 - $15,000 on 24 Aug 2026. That is 74 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Conocophillips (COP), worth $1,000,001 - $5,000,000 on 21 Aug 2026. That is 77 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who collects and who pays in energy
Companies that tend to gain
- XOM ExxonMobil Holdings
In “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds,” ExxonMobil Holdings (XOM) tends to benefit, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story
No up or down call on file
- USO United States Oil Fund
United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 6 Nov 2026 story “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
- XLE Select Sector Spdr Tr
For “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
- ITA IShares U.S. Aerospace & Defense ETF
For “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds,” IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence. Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story
- BWET Amplify Commodity Trust
In “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds,” Amplify Commodity Trust (BWET) is linked, with no stored direction, medium confidence. Reason on file: Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story
United States Oil Fund (USO) and the energy link
The 6 Nov 2026 story “OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds” names United States Oil Fund (USO) because of Energy.
The link for United States Oil Fund (USO) is this: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story
The price range for United States Oil Fund (USO), and the dates in the story
ITA traded between 197.59 and 218.73 across 20 sessions. The latest close on file is 216.38. USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 145.42. XLE traded between 63.05 and 70.15 across 20 sessions. The latest close on file is 66.70.
How strong the case is around United States Oil Fund (USO)
46 out of 100Price not final
“OPEC crude oil output is nearing pre-war levels as Saudi Arabia rebounds” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.