# OPEC Output May Be Stretched to Limit by Supply Crises, IEA Says - Bloomberg

> The International Energy Agency said OPEC's Gulf members may need to pump near full capacity to cover supply losses from Venezuela, Iran and Libya. It warned Saudi Arabia may have to draw harder than ever on spare capacity.

- Date: 2018-07-12 · published 2018-07-12T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/63958-opec-output-may-be-stretched-to-limit-by-supply-crises-iea-says-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Limited spare capacity leaves the market vulnerable to supply shocks, which supports crude prices and energy-linked feed costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-05-16 | [OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg](https://feedsoft.ai/events/53027-opec-supply-cuts-latest-oil-market-news-on-output-status-bloomberg.md) | +8.6% | +24.8% |
| BRENT | 2022-03-30 | [OPEC+ sticks to modest oil output rises, ditches IEA data](https://feedsoft.ai/events/42174-opec-sticks-to-modest-oil-output-rises-ditches-iea-data.md) | -4.4% | -6.5% |
| BRENT | 2024-11-03 | [OPEC+ Delays Supply Restart Again as Crude Prices Struggle - Bloomberg](https://feedsoft.ai/events/27302-opec-delays-supply-restart-again-as-crude-prices-struggle-bloomberg.md) | +0.8% | +0.2% |
| BRENT | 2023-02-10 | [OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg](https://feedsoft.ai/events/37221-opec-won-t-increase-oil-production-despite-russia-output-cut-delegates-say.md) | +0.6% | -3.2% |
| BRENT | 2020-11-01 | [Oil Climbs With Russia in Talks on Delaying OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/50319-oil-climbs-with-russia-in-talks-on-delaying-opec-output-hike-bloomberg.md) | +5.1% | +28.8% |
| WTI | 2020-05-16 | [OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg](https://feedsoft.ai/events/53027-opec-supply-cuts-latest-oil-market-news-on-output-status-bloomberg.md) | +13.5% | +26.0% |
| WTI | 2022-03-30 | [OPEC+ sticks to modest oil output rises, ditches IEA data](https://feedsoft.ai/events/42174-opec-sticks-to-modest-oil-output-rises-ditches-iea-data.md) | -2.2% | -2.2% |
| WTI | 2024-11-03 | [OPEC+ Delays Supply Restart Again as Crude Prices Struggle - Bloomberg](https://feedsoft.ai/events/27302-opec-delays-supply-restart-again-as-crude-prices-struggle-bloomberg.md) | +1.3% | -2.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-07-12/opec-output-may-be-stretched-to-limit-by-supply-crises-iea-says

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