# OPEC Oil Output Rises to One-Year High, Driven by Gains in Iraq, Venezuela, UAE - Bloomberg

> OPEC output rose by 240,000 barrels per day last month to 27.35 million bpd, the highest since December 2023, according to a Bloomberg survey. Gains came from Iraq after a fire at its biggest field, Venezuela ahead of US restrictions, and the UAE.

- Date: 2025-03-03 · published 2025-03-03T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/25488-opec-oil-output-rises-to-one-year-high-driven-by-gains-in-iraq-venezuela-uae
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher OPEC supply adds to a market already facing ample barrels, which is bearish for crude. Lower energy prices can ease costs for feed producers but also weaken biofuel demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | +6.4% | +12.3% |
| WTI | 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) | -1.6% | +1.7% |
| WTI | 2018-01-19 | [IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally - Bloomberg](https://feedsoft.ai/events/67147-iea-sees-explosive-growth-in-u-s-oil-output-as-prices-rally-bloomberg.md) | +2.5% | -3.9% |
| WTI | 2018-08-31 | [Saudi crude oil output in August rises to 10.424 million b/d: OPEC source](https://feedsoft.ai/events/63444-saudi-crude-oil-output-in-august-rises-to-10-424-million-b-d-opec-source.md) | -3.6% | +4.2% |
| WTI | 2020-10-30 | [OPEC oil output rises by 210,000 bpd in October-survey \| Financial Post](https://feedsoft.ai/events/50549-opec-oil-output-rises-by-210-000-bpd-in-october-survey-financial-post.md) | +7.3% | +26.5% |
| 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 | 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 | 2018-01-19 | [IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally - Bloomberg](https://feedsoft.ai/events/67147-iea-sees-explosive-growth-in-u-s-oil-output-as-prices-rally-bloomberg.md) | +2.0% | -8.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2025-03-03/opec-s-oil-output-rises-to-one-year-high-before-planned-revival

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