◂ Event Timeline

Oct 30, 2020REPORTGlobal

OPEC oil output rises by 210,000 bpd in October-survey

A Reuters survey shows OPEC crude output rose by about 210,000 bpd in October, with the OPEC 10 total at 21.77 million bpd. Compliance with the August cut agreement was 101 percent.

WHY IT MATTERS

Higher output and stable compliance add modest near-term supply, a mildly bearish signal for crude prices.

AFFECTSBRENT▼WTI▼

SOURCE
financialpost.comReutersOct 30, 2020

Price reaction & history

BRENT▼bearishSO FAR1d -0.6%5d +8.3%20d +27.9%

After 129 past bearish report events, BRENT moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

Jul 31, 2020OPEC oil output rises by 970,000 bpd in July - survey | Financial Post+4.9%
Sep 29, 2017OPEC oil output rises by 50,000 bpd in September - Reuters survey-1.8%
Feb 29, 2024OPEC oil output rises by 90,000 bpd in February, survey finds | Reuters+1.0%
Nov 4, 2024OPEC oil output rises in October as Libyan supply rebounds, survey finds | Reuters+0.8%
Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+5.7%

WTI▼bearishSO FAR1d -0.9%5d +7.3%20d +26.5%

After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

Jul 31, 2020OPEC oil output rises by 970,000 bpd in July - survey | Financial Post+5.2%
Sep 29, 2017OPEC oil output rises by 50,000 bpd in September - Reuters survey-1.6%
Feb 29, 2024OPEC oil output rises by 90,000 bpd in February, survey finds | Reuters+0.8%
Nov 4, 2024OPEC oil output rises in October as Libyan supply rebounds, survey finds | Reuters+1.3%
Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+6.4%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

BRENT · GP ▸

——— · ·

WTI · GP ▸

——— · ·

Loading…