# OPEC data indicate small Q2 surplus ahead of key OPEC+ decision on resuming oil output hikes | Reuters

> OPEC's monthly report forecasts world demand for OPEC+ crude at 42.20 million bpd in the second quarter, down from 42.60 million in the first quarter. The report points to a small Q2 surplus ahead of OPEC+ decisions on resuming output hikes.

- Date: 2026-02-11 · published 2026-02-11T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/20515-opec-data-indicate-small-q2-surplus-ahead-of-key-opec-decision-on-resuming-oil
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A projected surplus and lower crude demand is bearish for oil prices, which can ease energy costs across feed and freight.

## Read by commodity

- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-08-31 | [OPEC August oil output hits 2018 high despite Iran losses: Reuters survey \| Reuters](https://feedsoft.ai/events/63440-opec-august-oil-output-hits-2018-high-despite-iran-losses-reuters-survey-reuters.md) | -1.7% | +5.5% |
| BRENT | 2023-08-31 | [OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34490-opec-oil-output-rises-in-august-as-iran-hits-2018-high-reuters-survey-finds.md) | +5.7% | +12.3% |
| BRENT | 2024-02-29 | [OPEC oil output rises by 90,000 bpd in February, survey finds \| Reuters](https://feedsoft.ai/events/31565-opec-oil-output-rises-by-90-000-bpd-in-february-survey-finds-reuters.md) | +1.0% | +1.9% |
| BRENT | 2017-09-29 | [OPEC oil output rises by 50,000 bpd in September - Reuters survey](https://feedsoft.ai/events/68863-opec-oil-output-rises-by-50-000-bpd-in-september-reuters-survey.md) | -1.8% | +1.6% |
| BRENT | 2024-11-04 | [OPEC oil output rises in October as Libyan supply rebounds, survey finds \| Reuters](https://feedsoft.ai/events/27304-opec-oil-output-rises-in-october-as-libyan-supply-rebounds-survey-finds-reuters.md) | +0.8% | +0.2% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-sees-world-demand-opec-crude-falling-second-quarter-2026-02-11/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.