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OPEC production has risen in November after Iraq hits record high exports

Output is not far below July's 31.88 million bpd, which is the highest reported records in over 20 years.

The bad weather in Southern Iraq had slowed up supply but there has been a large rebound in November.

Exports from Iraq's main southern terminals, have risen at least 3.06 million bpd, and data from Iraq's oil ministry showed oil exports rose to a decades-high average of 3.37 million bpd in November, with output at 3.66 million bpd.

Saudi Arabia has also increased their exports, to 10.25 million bpd and is not far from the record high of 10.56 million bpd it pumped in June. Therefore the total OPEC has boosted production by about 1.50 million bpd since its November 2014 policy shift.

Output is not far below July's 31.88 million bpd, which is the highest reported records in over 20 years.

The increase indicates the Organization of the Petroleum Exporting Countries is again pumping close to a record high as Saudi Arabia and other big producers focus on market share.

OPEC meets this week to review the policy, with no change expected. With the expected lifting of sanctions on Iran has the potential to boost OPEC output further in 2016.

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