# OPEC Oil Output Set For Drop Despite Saudi Production Boost | OilPrice.com

> A Reuters survey showed OPEC output fell to a 2015 low of 30.17 million bpd in May. A 200,000 bpd rise in Saudi output was outweighed by a steep fall in Iranian supply after US waivers ended. Venezuela and Nigeria also saw declines.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A tighter OPEC supply picture pushes crude prices higher, raising input and freight costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-31 | [OPEC Boosted Production Less Than Expected In May \| OilPrice.com](https://feedsoft.ai/events/47016-opec-boosted-production-less-than-expected-in-may-oilprice-com.md) | +4.4% | +10.0% |
| WTI | 2018-10-19 | [Leaked Document: OPEC+ Struggling To Lift Oil Production \| OilPrice.com](https://feedsoft.ai/events/62458-leaked-document-opec-struggling-to-lift-oil-production-oilprice-com.md) | -2.0% | -17.8% |
| WTI | 2017-02-13 | [OPEC Reports First Output Deal Results: 890,000 Bpd Cut \| OilPrice.com](https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com.md) | -0.8% | -10.7% |
| WTI | 2017-09-12 | [OPEC oil production falls for the first time since March](https://feedsoft.ai/events/68865-opec-oil-production-falls-for-the-first-time-since-march.md) | +3.8% | +3.2% |
| WTI | 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) | -0.0% | -3.0% |
| BRENT | 2021-05-31 | [OPEC Boosted Production Less Than Expected In May \| OilPrice.com](https://feedsoft.ai/events/47016-opec-boosted-production-less-than-expected-in-may-oilprice-com.md) | +2.4% | +7.5% |
| BRENT | 2018-10-19 | [Leaked Document: OPEC+ Struggling To Lift Oil Production \| OilPrice.com](https://feedsoft.ai/events/62458-leaked-document-opec-struggling-to-lift-oil-production-oilprice-com.md) | -3.4% | -17.1% |
| BRENT | 2017-02-13 | [OPEC Reports First Output Deal Results: 890,000 Bpd Cut \| OilPrice.com](https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com.md) | -1.4% | -8.8% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/OPEC-Oil-Output-Set-For-Drop-Despite-Saudi-Production-Boost.html

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