# Supply Dynamics Back In Focus  Amid Prospect Of Iraq Cuts...

> Reduced near-term output from Libya and Iraq could allow OPEC+ to ease its voluntary cuts in October without weakening the market. Instability has returned to Libya, and Iraq's compliance pledges appear more concrete.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28692-supply-dynamics-back-in-focus-amid-prospect-of-iraq-cuts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Supply outages in Libya and Iraq could offset the planned OPEC+ increase, limiting downward pressure on crude. This affects diesel and energy costs for feed producers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.2% | +3.6% |
| BRENT | 2020-10-29 | [Kuwait says supports any OPEC+ supply decision as 2021 curbs loom \| Financial Post](https://feedsoft.ai/events/50547-kuwait-says-supports-any-opec-supply-decision-as-2021-curbs-loom-financial-post.md) | +5.1% | +24.6% |
| BRENT | 2020-11-29 | [Iraq isn't seeking exemptions from OPEC+ output cuts: report \| S&P Global](https://feedsoft.ai/events/50065-iraq-isn-t-seeking-exemptions-from-opec-output-cuts-report-s-and-p-global.md) | +3.5% | +7.0% |
| BRENT | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.4% | -2.7% |
| BRENT | 2023-11-03 | [Natural gas, LNG markets clutch onto risk premium despite ample supply](https://feedsoft.ai/events/6391-natural-gas-lng-markets-clutch-onto-risk-premium-despite-ample-supply.md) | -8.0% | -6.4% |
| WTI | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.1% | +2.3% |
| WTI | 2020-10-29 | [Kuwait says supports any OPEC+ supply decision as 2021 curbs loom \| Financial Post](https://feedsoft.ai/events/50547-kuwait-says-supports-any-opec-supply-decision-as-2021-curbs-loom-financial-post.md) | +4.6% | +22.3% |
| WTI | 2026-10-21 | [Fertilizer affordability improves, but supply risks remain amid global market shifts - Farm Country Alabama](https://feedsoft.ai/events/17036-fertilizer-affordability-improves-but-supply-risks-remain-amid-global-market.md) | -0.7% | — |

## Sources

- mees.com: https://www.mees.com/2024/8/30/opec/supply-dynamics-back-in-focus-amid-prospect-of-iraq-cuts-libya-outages/15effa90-66d7-11ef-9a50-63d712859b69

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