# OPEC Oil Output Slips Before Vienna Meeting

> OPEC oil output fell in November to an average of 29.57 million bpd, down 110,000 bpd from October, according to a Reuters survey. Angolan maintenance and Saudi restraint ahead of the Saudi Aramco IPO drove the decline. OPEC and allies are expected to extend their supply pact at meetings on December 5-6.

- Date: 2019-11-30 · published 2019-11-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower OPEC output supports crude prices, and possible deeper cuts could tighten supply further. Higher oil prices typically raise diesel and freight costs and lend support to biofuel demand for vegetable oils.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-09-29 | [Oil slips after hitting $90/bbl as OPEC+ considers output cut](https://feedsoft.ai/events/39760-oil-slips-after-hitting-90-bbl-as-opec-considers-output-cut.md) | +6.8% | +7.8% |
| WTI | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -5.4% | -16.7% |
| WTI | 2023-12-01 | [OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts \| Euronews](https://feedsoft.ai/events/32491-opec-meeting-russia-and-saudi-arabia-extend-oil-output-cuts-euronews.md) | -8.8% | -5.2% |
| WTI | 2019-03-18 | [OPEC Scraps April Meeting but Keeps Oil Cuts in Place](https://feedsoft.ai/events/60016-opec-scraps-april-meeting-but-keeps-oil-cuts-in-place.md) | +0.7% | +9.2% |
| WTI | 2023-04-02 | [Oil leaps 6% as OPEC+ shocks markets by cutting output target](https://feedsoft.ai/events/7946-oil-leaps-6-as-opec-shocks-markets-by-cutting-output-target.md) | +5.4% | -0.0% |
| BRENT | 2022-09-29 | [Oil slips after hitting $90/bbl as OPEC+ considers output cut](https://feedsoft.ai/events/39760-oil-slips-after-hitting-90-bbl-as-opec-considers-output-cut.md) | +4.9% | +5.4% |
| BRENT | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -7.0% | -16.6% |
| BRENT | 2023-02-01 | [Opec+ sticks to oil output policy after brief meeting - The Business Times](https://feedsoft.ai/events/37229-opec-sticks-to-oil-output-policy-after-brief-meeting-the-business-times.md) | -0.8% | -0.5% |

## Sources

- english.aawsat.com: https://english.aawsat.com/home/article/2014766/opec-oil-output-slips-vienna-meeting

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