# OPEC oil output slips from 2017 high on renewed Libyan outages

> A Reuters survey found OPEC output fell 170,000 bpd in August from its 2017 high, mainly due to a Libyan outage of over 350,000 bpd. OPEC compliance rose to 89% in August, up 5 points from July.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69357-opec-oil-output-slips-from-2017-high-on-renewed-libyan-outages
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower Libyan supply tightens crude balances, supporting energy prices and the cost of diesel and fertilizer inputs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-02 | [Global LNG prices hit 2016 high as OPEC agrees oil output cut](https://feedsoft.ai/events/73632-global-lng-prices-hit-2016-high-as-opec-agrees-oil-output-cut.md) | -0.5% | +5.2% |
| WTI | 2019-01-03 | [OPEC oil output posts biggest drop since 2017 on Saudi move](https://feedsoft.ai/events/60996-opec-oil-output-posts-biggest-drop-since-2017-on-saudi-move.md) | +12.6% | +16.8% |
| WTI | 2019-07-31 | [OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey](https://feedsoft.ai/events/58012-opec-oil-output-hits-lowest-since-2011-on-saudi-cut-sanctions-reuters-survey.md) | -7.6% | -5.3% |
| WTI | 2022-01-06 | [Oil extends rally on Kazakhstan unrest and Libyan outages](https://feedsoft.ai/events/43298-oil-extends-rally-on-kazakhstan-unrest-and-libyan-outages.md) | +6.1% | +15.9% |
| WTI | 2019-04-01 | [OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts](https://feedsoft.ai/events/59501-opec-oil-output-hits-four-year-low-on-saudi-cuts-venezuela-blackouts.md) | +4.9% | +5.4% |
| BRENT | 2016-12-02 | [Global LNG prices hit 2016 high as OPEC agrees oil output cut](https://feedsoft.ai/events/73632-global-lng-prices-hit-2016-high-as-opec-agrees-oil-output-cut.md) | +2.7% | +8.1% |
| BRENT | 2019-01-03 | [OPEC oil output posts biggest drop since 2017 on Saudi move](https://feedsoft.ai/events/60996-opec-oil-output-posts-biggest-drop-since-2017-on-saudi-move.md) | +10.9% | +13.4% |
| BRENT | 2019-07-31 | [OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey](https://feedsoft.ai/events/58012-opec-oil-output-hits-lowest-since-2011-on-saudi-cut-sanctions-reuters-survey.md) | -7.6% | -7.3% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/opec-oil-output-slips-from-2017-high-on-renewed-libyan-outages-117083101364_1.html

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