# OPEC Reports First Output Deal Results: 890,000 Bpd Cut | OilPrice.com

> OPEC reported that its crude output fell by 890,000 bpd in January to average 32.14 million bpd, with the largest cuts in Saudi Arabia, Iraq and the UAE. Secondary sources show Saudi Arabia cut more than promised, while Iraq and others cut less. Reuters calculations put compliance near 93 percent.

- Date: 2017-02-13 · published 2017-02-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Confirmed output cuts that are largely being followed tighten crude supply, supporting oil prices. Higher crude tends to strengthen biofuel economics and raise diesel and fertilizer costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -8.8% | -2.2% |
| BRENT | 2017-02-10 | [OPEC Cuts 860,000 B/D Output, More Work Required \| MEES](https://feedsoft.ai/events/72411-opec-cuts-860-000-b-d-output-more-work-required-mees.md) | +0.2% | -6.2% |
| BRENT | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | -0.2% | +2.0% |
| BRENT | 2019-11-29 | [OPEC oil output falls by 110,000 bpd in November -Reuters survey \| Financial Post](https://feedsoft.ai/events/55956-opec-oil-output-falls-by-110-000-bpd-in-november-reuters-survey-financial-post.md) | +0.2% | +6.5% |
| BRENT | 2016-05-27 | [Oil On Firm Footing at $50? \| OilPrice.com](https://feedsoft.ai/events/8455-oil-on-firm-footing-at-50-oilprice-com.md) | -1.0% | -4.1% |
| WTI | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -6.9% | +4.9% |
| WTI | 2017-02-10 | [OPEC Cuts 860,000 B/D Output, More Work Required \| MEES](https://feedsoft.ai/events/72411-opec-cuts-860-000-b-d-output-more-work-required-mees.md) | +0.8% | -9.1% |
| WTI | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | +2.4% | -0.3% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/OPEC-Reports-First-Output-Deal-Results-890000-Bpd-Cut.html

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