# OPEC's oil output jumps again as the group struggles to end crude glut

> OPEC's June output rose about 393,500 barrels a day to 32.6 million bpd, led by Libya and Nigeria, which are exempt from cuts. Saudi Arabia also reported pumping above its agreed quota. The increases came despite the existing production-cut deal.

- Date: 2017-07-12 · published 2017-07-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69868-opec-s-oil-output-jumps-again-as-the-group-struggles-to-end-crude-glut
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising output from exempt members and overproduction weaken the effort to drain inventories, which limits crude price gains and energy-cost support.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-08-31 | [Saudi crude oil output in August rises to 10.424 million b/d: OPEC source](https://feedsoft.ai/events/63444-saudi-crude-oil-output-in-august-rises-to-10-424-million-b-d-opec-source.md) | -3.6% | +4.2% |
| WTI | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -6.6% | -3.7% |
| WTI | 2019-02-12 | [OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives - TT](https://feedsoft.ai/events/60519-opec-sees-weaker-demand-for-its-crude-as-us-oil-supply-thrives-tt.md) | +6.0% | +8.3% |
| WTI | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.8% | -15.7% |
| WTI | 2019-09-06 | [OPEC hikes Aug crude output, but still overcomplies with cuts: S&P Global Platts survey](https://feedsoft.ai/events/57005-opec-hikes-aug-crude-output-but-still-overcomplies-with-cuts-s-and-p-global.md) | -2.1% | -6.9% |
| BRENT | 2018-08-31 | [Saudi crude oil output in August rises to 10.424 million b/d: OPEC source](https://feedsoft.ai/events/63444-saudi-crude-oil-output-in-august-rises-to-10-424-million-b-d-opec-source.md) | -1.7% | +5.5% |
| BRENT | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -6.7% | -1.6% |
| BRENT | 2019-02-12 | [OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives - TT](https://feedsoft.ai/events/60519-opec-sees-weaker-demand-for-its-crude-as-us-oil-supply-thrives-tt.md) | +8.0% | +7.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/07/12/opecs-oil-output-jumps-again-as-the-group-struggles-to-end-crude-glut.html

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