# OPEC oil output rises to highest since 2016 despite Iran - Reuters survey

> A Reuters survey found OPEC output in October rose to 33.31 million bpd, the highest since December 2016, led by the UAE and Libya. Higher output more than offset lower Iranian shipments caused by US sanctions. Oil had eased to about $76 after touching a four-year high of $86.74 on Oct. 3.

- Date: 2018-10-31 · published 2018-10-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62453-opec-oil-output-rises-to-highest-since-2016-despite-iran-reuters-survey
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising OPEC supply eases concern about sanctions-driven shortages, which pressures crude and, in turn, energy and transport costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-01 | 5 | -7.1% | -2.8 | The Reuters survey showed OPEC October output at a near two-year high, more than offsetting lower Iranian exports and signaling ample supply. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-03 | [OPEC+ agrees third oil output quota hike since Hormuz closure \| Reuters](https://feedsoft.ai/events/19147-opec-agrees-third-oil-output-quota-hike-since-hormuz-closure-reuters.md) | -6.3% | -9.2% |
| WTI | 2018-09-21 | [Exclusive - OPEC and allies consider oil output boost as Iranian supply falls: source \| Reuters](https://feedsoft.ai/events/62930-exclusive-opec-and-allies-consider-oil-output-boost-as-iranian-supply-falls.md) | +1.9% | -3.0% |
| WTI | 2022-06-02 | [OPEC+ brings forward oil output rises as Biden's Saudi visit looms \| Reuters](https://feedsoft.ai/events/40834-opec-brings-forward-oil-output-rises-as-biden-s-saudi-visit-looms-reuters.md) | +5.8% | -7.1% |
| WTI | 2025-06-25 | [Israel-Iran war highlights Mideast's declining influence on oil prices \| Reuters](https://feedsoft.ai/events/9611-israel-iran-war-highlights-mideast-s-declining-influence-on-oil-prices-reuters.md) | +1.8% | +3.1% |
| WTI | 2025-08-05 | [Oil prices fall as OPEC+ output hikes counter Russia disruption concerns \| Reuters](https://feedsoft.ai/events/23233-oil-prices-fall-as-opec-output-hikes-counter-russia-disruption-concerns-reuters.md) | -3.4% | -1.7% |
| BRENT | 2026-05-03 | [OPEC+ agrees third oil output quota hike since Hormuz closure \| Reuters](https://feedsoft.ai/events/19147-opec-agrees-third-oil-output-quota-hike-since-hormuz-closure-reuters.md) | -9.5% | -14.6% |
| BRENT | 2018-09-21 | [Exclusive - OPEC and allies consider oil output boost as Iranian supply falls: source \| Reuters](https://feedsoft.ai/events/62930-exclusive-opec-and-allies-consider-oil-output-boost-as-iranian-supply-falls.md) | +3.5% | +1.2% |
| BRENT | 2022-06-02 | [OPEC+ brings forward oil output rises as Biden's Saudi visit looms \| Reuters](https://feedsoft.ai/events/40834-opec-brings-forward-oil-output-rises-as-biden-s-saudi-visit-looms-reuters.md) | +6.0% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/us-oil-opec-survey-idUSKCN1N525W/

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