# Crude output falls in January

> The IEA reported that global oil supply fell by 1.4 million barrels per day in January, led by OPEC's Vienna production cut. OPEC crude output dropped 930,000 b/d to a near four-year low, and OPEC compliance was 86 percent. Non-OPEC compliance was only 25 percent.

- Date: 2019-02-13 · published 2019-02-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/60517-crude-output-falls-in-january
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A sharp supply drop in a weak-demand year supports crude prices, which feed into energy costs for drying, transport and biofuel margins.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-01-31 | [OPEC oil output falls in January on new cuts, Libya - survey \| Reuters](https://feedsoft.ai/events/32028-opec-oil-output-falls-in-january-on-new-cuts-libya-survey-reuters.md) | -4.8% | +0.3% |
| 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 | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | -0.2% | +2.0% |
| BRENT | 2025-01-07 | [OPEC oil output falls in December on UAE and Iran, survey finds](https://feedsoft.ai/events/26425-opec-oil-output-falls-in-december-on-uae-and-iran-survey-finds.md) | +6.6% | -0.7% |
| 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% |
| WTI | 2024-01-31 | [OPEC oil output falls in January on new cuts, Libya - survey \| Reuters](https://feedsoft.ai/events/32028-opec-oil-output-falls-in-january-on-new-cuts-libya-survey-reuters.md) | -6.0% | +1.3% |
| 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 | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | +2.4% | -0.3% |

## Sources

- aa.com.tr: https://aa.com.tr/en/economy/crude-output-falls-in-january/1391161

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