# OPEC's oil output plunges as Saudis slash output

> A monthly survey showed OPEC output fell 534,000 bpd in March to about 30.02 million bpd, a four-year low, driven by Saudi cuts and Venezuelan declines. The OPEC+ alliance is holding 1.2 million bpd off the market through June.

- Date: 2019-04-10 · published 2019-04-10T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59506-opec-s-oil-output-plunges-as-saudis-slash-output
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Continued OPEC+ curbs keep crude prices high, supporting energy costs and biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +2.7% | +2.8% |
| BRENT | 2023-03-31 | [OPEC oil output falls on Angola, Iraq outages - Reuters survey](https://feedsoft.ai/events/36769-opec-oil-output-falls-on-angola-iraq-outages-reuters-survey.md) | +8.8% | +2.0% |
| BRENT | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -8.8% | -2.2% |
| BRENT | 2023-07-31 | [OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds.md) | +2.4% | +0.2% |
| BRENT | 2018-01-19 | [IEA Sees Oil Markets Tightening as PDVSA Output](https://feedsoft.ai/events/66904-iea-sees-oil-markets-tightening-as-pdvsa-output.md) | +2.0% | -8.4% |
| WTI | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +3.8% | +3.2% |
| WTI | 2023-03-31 | [OPEC oil output falls on Angola, Iraq outages - Reuters survey](https://feedsoft.ai/events/36769-opec-oil-output-falls-on-angola-iraq-outages-reuters-survey.md) | +8.6% | +3.3% |
| WTI | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -6.9% | +4.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/10/opecs-oil-output-plunges-as-saudis-slash-output.html

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