# Oil surplus is vanishing, thanks to healthy demand and output curbs, Opec says | The National

> OPEC's monthly report said the global oil stock surplus is close to disappearing, with developed-world stocks about 43 million barrels above the five-year average. It also raised its forecast for production from non-OPEC rivals, citing healthy demand and high compliance with supply cuts.

- Date: 2018-04-12 · published 2018-04-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/65426-oil-surplus-is-vanishing-thanks-to-healthy-demand-and-output-curbs-opec-says
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A near-vanished surplus and firmer demand outlook point to tighter balances and support crude prices, though higher non-OPEC output limits the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.8% | -9.1% |
| WTI | 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) | +7.1% | -1.5% |
| WTI | 2023-07-31 | [OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds.md) | +2.8% | -0.4% |
| WTI | 2026-01-09 | [OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds \| Reuters](https://feedsoft.ai/events/20971-opec-oil-output-falls-in-december-on-iran-and-venezuela-reuters-survey-finds.md) | +2.4% | +10.3% |
| WTI | 2019-04-10 | [OPEC's oil output plunges as Saudis slash output](https://feedsoft.ai/events/59506-opec-s-oil-output-plunges-as-saudis-slash-output.md) | -0.0% | -3.0% |
| BRENT | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.2% | -6.2% |
| 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 | 2023-07-31 | [OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds.md) | +2.4% | +0.2% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/oil-surplus-is-vanishing-thanks-to-healthy-demand-and-output-curbs-opec-says-1.721009

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