# Opec-Plus: October Output Falls in Line With Deal | Energy Intelligence

> OPEC+ members with quotas cut crude output by 90,000 barrels per day in October to 38.52 million b/d, according to Energy Intelligence. Including four members without quotas, total output was 44.59 million b/d, down 130,000 b/d from September, mainly due to lower Venezuelan barrels. The result was close to the 100,000 b/d cut agreed in early September.

- Date: 2022-11-21 · published 2022-11-21T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/38589-opec-plus-october-output-falls-in-line-with-deal-energy-intelligence
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Output falling in line with the agreed cut means supply is tightening only as planned, with no surprise shift for crude prices. The decline in Venezuelan barrels points to a supply loss outside the quota system.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-11-08 | [Opec-Plus: October Output Flat Ahead of Massive Cut \| Energy Intelligence](https://feedsoft.ai/events/38590-opec-plus-october-output-flat-ahead-of-massive-cut-energy-intelligence.md) | -5.6% | -16.0% |
| BRENT | 2024-01-03 | [OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg](https://feedsoft.ai/events/32039-opec-s-crude-oil-output-steady-in-december-before-new-supply-cuts-bloomberg.md) | +2.3% | +9.8% |
| BRENT | 2018-07-01 | [OPEC July oil output hits 2018 peak, but outages weigh: Reuters survey - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/63957-opec-july-oil-output-hits-2018-peak-but-outages-weigh-reuters-survey-energy.md) | -3.1% | -4.9% |
| BRENT | 2018-01-31 | [Oil rebounds, ends up on gasoline demand, OPEC compliance](https://feedsoft.ai/events/67146-oil-rebounds-ends-up-on-gasoline-demand-opec-compliance.md) | -2.3% | -1.9% |
| BRENT | 2020-01-07 | [Crude oil prices were generally lower in 2019 than in 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/55330-crude-oil-prices-were-generally-lower-in-2019-than-in-2018-u-s-energy.md) | -7.8% | -22.1% |

## Sources

- energyintel.com: https://www.energyintel.com/00000184-9a9e-d0fe-abc5-dbff0b610000

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