# OPEC says oil market well supplied, wary of 2019 surplus

> OPEC Secretary-General Mohammad Barkindo said the oil market is well supplied and wary of a glut in 2019. OPEC also cut its 2018 and 2019 demand estimates on trade disputes and emerging market volatility, pointing to excess supply.

- Date: 2018-10-11 · published 2018-10-11T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62457-opec-says-oil-market-well-supplied-wary-of-2019-surplus
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower demand forecasts and a warning of surplus point to softer crude prices, which lowers fuel and freight costs for feed supply chains.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-10-01 | [World oil market to see higher surplus after OPEC+ hike, IEA says](https://feedsoft.ai/events/22773-world-oil-market-to-see-higher-surplus-after-opec-hike-iea-says.md) | -1.0% | -3.5% |
| WTI | 2020-01-16 | [IEA sees well-supplied oil market despite slower shale growth \| S&P Global](https://feedsoft.ai/events/54972-iea-sees-well-supplied-oil-market-despite-slower-shale-growth-s-and-p-global.md) | -4.0% | -11.1% |
| WTI | 2019-08-16 | [OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus](https://feedsoft.ai/events/57507-opec-sees-bearish-oil-outlook-for-rest-of-2019-points-to-2020-surplus.md) | +1.5% | +1.1% |
| WTI | 2018-03-09 | [Opec forecasts balanced oil market by 2026](https://feedsoft.ai/events/65937-opec-forecasts-balanced-oil-market-by-2026.md) | +1.7% | +3.2% |
| WTI | 2019-08-08 | [Oil Market Report - August 2019 - IEA](https://feedsoft.ai/events/10825-oil-market-report-august-2019-iea.md) | +7.9% | +10.0% |
| BRENT | 2025-10-01 | [World oil market to see higher surplus after OPEC+ hike, IEA says](https://feedsoft.ai/events/22773-world-oil-market-to-see-higher-surplus-after-opec-hike-iea-says.md) | -2.2% | -5.2% |
| BRENT | 2020-01-16 | [IEA sees well-supplied oil market despite slower shale growth \| S&P Global](https://feedsoft.ai/events/54972-iea-sees-well-supplied-oil-market-despite-slower-shale-growth-s-and-p-global.md) | -1.5% | -12.5% |
| BRENT | 2019-08-16 | [OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus](https://feedsoft.ai/events/57507-opec-sees-bearish-oil-outlook-for-rest-of-2019-points-to-2020-surplus.md) | +3.6% | +4.8% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/opec-says-oil-market-well-supplied-wary-of-2019-surplus-118101100982_1.html

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