# OPEC oil output falls in January on new cuts, Libya - survey | Reuters

> A Reuters survey found OPEC pumped 26.33 million bpd in January, down 410,000 bpd from December. The decline reflects new cuts and lower Libyan output, and Angola's exit from the group is excluded from the comparison.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32028-opec-oil-output-falls-in-january-on-new-cuts-libya-survey-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower OPEC output tightens the crude market, which pushes up diesel and fertilizer costs and supports feed-related energy expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-03-31 | [OPEC oil output falls on Angola, Iraq outages - Reuters survey](https://feedsoft.ai/events/36769-opec-oil-output-falls-on-angola-iraq-outages-reuters-survey.md) | +8.8% | +2.0% |
| BRENT | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | -0.2% | +2.0% |
| BRENT | 2023-05-02 | [OPEC oil output falls on Iraq, Nigeria outages, Reuters survey finds \| Reuters](https://feedsoft.ai/events/35866-opec-oil-output-falls-on-iraq-nigeria-outages-reuters-survey-finds-reuters.md) | -4.8% | -8.5% |
| BRENT | 2023-07-31 | [OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds.md) | +2.4% | +0.2% |
| BRENT | 2017-01-05 | [OPEC oil output falls from record high ahead of planned cuts - Reuters survey](https://feedsoft.ai/events/72911-opec-oil-output-falls-from-record-high-ahead-of-planned-cuts-reuters-survey.md) | -2.1% | +0.4% |
| WTI | 2023-03-31 | [OPEC oil output falls on Angola, Iraq outages - Reuters survey](https://feedsoft.ai/events/36769-opec-oil-output-falls-on-angola-iraq-outages-reuters-survey.md) | +8.6% | +3.3% |
| WTI | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | +2.4% | -0.3% |
| WTI | 2023-05-02 | [OPEC oil output falls on Iraq, Nigeria outages, Reuters survey finds \| Reuters](https://feedsoft.ai/events/35866-opec-oil-output-falls-on-iraq-nigeria-outages-reuters-survey-finds-reuters.md) | -3.3% | -8.2% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-oil-output-falls-january-new-cuts-libya-survey-2024-01-31/

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