# OPEC November oil output slips before Aramco IPO, policy meeting

> OPEC output in November averaged 29.57 million bpd according to a Reuters survey, down 110,000 bpd from October. OPEC+ agreed in December to cut supply by 1.2 million bpd from January 1, with OPEC's share about 800,000 bpd.

- Date: 2019-11-30 · published 2019-11-30T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/55952-opec-november-oil-output-slips-before-aramco-ipo-policy-meeting
- 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 and continued compliance with the cut support crude prices, with knock-on effects on energy-linked commodity costs. The survey is a routine data point that mostly confirms existing supply restraint.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-12-04 | [OPEC oil output falls in November to lowest since May](https://feedsoft.ai/events/67408-opec-oil-output-falls-in-november-to-lowest-since-may.md) | -0.6% | +4.0% |
| BRENT | 2022-11-30 | [OPEC oil output drops in November after cut pledged -survey \| Reuters](https://feedsoft.ai/events/38584-opec-oil-output-drops-in-november-after-cut-pledged-survey-reuters.md) | -4.2% | -0.8% |
| BRENT | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.2% | -6.2% |
| BRENT | 2019-11-29 | [OPEC oil output falls by 110,000 bpd in November -Reuters survey \| Financial Post](https://feedsoft.ai/events/55956-opec-oil-output-falls-by-110-000-bpd-in-november-reuters-survey-financial-post.md) | +0.2% | +6.5% |
| BRENT | 2019-04-10 | [OPEC's oil output plunges as Saudis slash output](https://feedsoft.ai/events/59506-opec-s-oil-output-plunges-as-saudis-slash-output.md) | +0.6% | -0.1% |
| WTI | 2017-12-04 | [OPEC oil output falls in November to lowest since May](https://feedsoft.ai/events/67408-opec-oil-output-falls-in-november-to-lowest-since-may.md) | -1.9% | +3.5% |
| WTI | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.8% | -9.1% |
| WTI | 2019-11-29 | [OPEC oil output falls by 110,000 bpd in November -Reuters survey \| Financial Post](https://feedsoft.ai/events/55956-opec-oil-output-falls-by-110-000-bpd-in-november-reuters-survey-financial-post.md) | +0.5% | +6.2% |

## Sources

- reuters.com: https://www.reuters.com/article/us-oil-opec-survey/opec-november-oil-output-slips-before-aramco-ipo-policy-meeting-idUSKBN1Y31ZO/?feedName=businessNews&feedType=RSS

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