# Iraq, Libya declines lead 500,000 b/d drop in OPEC+ Sept output: Platts survey

> The Platts OPEC+ survey shows output fell 500,000 bpd in September to 40.23 million bpd, driven by a Libyan shutdown and cuts to Iraqi exports. Libyan output fell to 580,000 bpd during a central bank leadership dispute that lasted from August 26 to October 3.

- Date: 2024-10-10 · published 2024-10-10T12:00:00.000Z
- Category: geopolitics · region Libya · magnitude medium
- Page: https://feedsoft.ai/events/27772-iraq-libya-declines-lead-500-000-b-d-drop-in-opec-sept-output-platts-survey
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply outages in Libya and Iraq tighten the crude market, supporting oil prices and the energy costs that feed into feed production.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-05-19 | [Successful OPEC+ output deal fits a pattern](https://feedsoft.ai/events/53308-successful-opec-output-deal-fits-a-pattern.md) | +8.7% | +20.3% |
| WTI | 2019-01-03 | [OPEC oil output posts biggest drop since 2017 on Saudi move](https://feedsoft.ai/events/60996-opec-oil-output-posts-biggest-drop-since-2017-on-saudi-move.md) | +12.6% | +16.8% |
| WTI | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.5% | -1.9% |
| WTI | 2019-10-01 | [OPEC oil output sinks to lowest since 2011 after Saudi attacks: Reuters survey](https://feedsoft.ai/events/56738-opec-oil-output-sinks-to-lowest-since-2011-after-saudi-attacks-reuters-survey.md) | -2.5% | +2.9% |
| WTI | 2019-07-31 | [OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey](https://feedsoft.ai/events/58012-opec-oil-output-hits-lowest-since-2011-on-saudi-cut-sanctions-reuters-survey.md) | -7.6% | -5.3% |
| BRENT | 2020-05-19 | [Successful OPEC+ output deal fits a pattern](https://feedsoft.ai/events/53308-successful-opec-output-deal-fits-a-pattern.md) | +2.9% | +20.0% |
| BRENT | 2019-01-03 | [OPEC oil output posts biggest drop since 2017 on Saudi move](https://feedsoft.ai/events/60996-opec-oil-output-posts-biggest-drop-since-2017-on-saudi-move.md) | +10.9% | +13.4% |
| BRENT | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.6% | -3.2% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/crude-oil/101024-iraq-libya-declines-lead-500000-bd-drop-in-opec-sept-output-platts-survey

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