# OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds | Reuters

> A Reuters survey found OPEC crude output fell by 840,000 bpd in July from June, the lowest level in a while. The drop reflects Saudi Arabia's voluntary cut and an outage in Nigeria.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower OPEC supply tightens crude balances and supports oil prices, which feed into diesel and freight costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-03-31 | [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 | 2026-01-09 | [OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds \| Reuters](https://feedsoft.ai/events/20971-opec-oil-output-falls-in-december-on-iran-and-venezuela-reuters-survey-finds.md) | +3.7% | +9.6% |
| BRENT | 2024-01-31 | [OPEC oil output falls in January on new cuts, Libya - survey \| Reuters](https://feedsoft.ai/events/32028-opec-oil-output-falls-in-january-on-new-cuts-libya-survey-reuters.md) | -4.8% | +0.3% |
| BRENT | 2025-01-07 | [OPEC oil output falls in December on UAE and Iran, survey finds](https://feedsoft.ai/events/26425-opec-oil-output-falls-in-december-on-uae-and-iran-survey-finds.md) | +6.6% | -0.7% |
| 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% |
| 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 | 2026-01-09 | [OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds \| Reuters](https://feedsoft.ai/events/20971-opec-oil-output-falls-in-december-on-iran-and-venezuela-reuters-survey-finds.md) | +2.4% | +10.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/opec-oil-output-falls-saudi-cut-nigerian-outage-reuters-survey-finds-2023-07-31/

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