# OPEC slashed oil output in January, pumping just above oil target

> OPEC removed about 797,000 barrels per day from the market in January, just short of its 812,000 bpd target under the new OPEC+ cut round. Total OPEC output fell to about 30.8 million bpd from 31.6 million in December, with Saudi Arabia making the largest cut. Iraq and Nigeria pumped more than 100,000 bpd above their quotas.

- Date: 2019-02-12 · published 2019-02-12T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/60515-opec-slashed-oil-output-in-january-pumping-just-above-oil-target
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Near-full compliance with the OPEC+ cuts tightens crude supply, which supports diesel and fertilizer costs and can lift soyoil and biofuel values for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-09-26 | [OPEC+ is poised to slip further below oil output target \| Reuters](https://feedsoft.ai/events/22774-opec-is-poised-to-slip-further-below-oil-output-target-reuters.md) | -7.4% | -5.4% |
| BRENT | 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) | +7.4% | +1.0% |
| BRENT | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.3% | +7.2% |
| BRENT | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +3.3% | +16.7% |
| BRENT | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +7.4% | +1.0% |
| WTI | 2025-09-26 | [OPEC+ is poised to slip further below oil output target \| Reuters](https://feedsoft.ai/events/22774-opec-is-poised-to-slip-further-below-oil-output-target-reuters.md) | -6.6% | -4.8% |
| 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% |
| WTI | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.2% | +7.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/02/12/opec-slashes-oil-output-in-january-pumps-just-above-oil-target.html

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