# OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters

> OPEC crude output rose by 220,000 bpd in August to 27.56 million bpd, according to a Reuters survey. It was the first monthly increase since February, with Iran reaching a 2018 high.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/34490-opec-oil-output-rises-in-august-as-iran-hits-2018-high-reuters-survey-finds
- 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 eases the tightness that drove July's rally, which is mildly bearish for crude and diesel costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | -3.6% | +4.2% |
| WTI | 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) | +1.3% | -2.1% |
| WTI | 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) | +0.8% | +3.5% |
| 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 | 2018-10-01 | [OPEC oil output boost in September limited by Iran losses: Reuters survey](https://feedsoft.ai/events/62456-opec-oil-output-boost-in-september-limited-by-iran-losses-reuters-survey.md) | +1.5% | -7.7% |
| 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 | 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% |
| 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% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-oil-output-rises-august-iran-hits-2018-high-reuters-survey-2023-08-31/

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