# Oil gains on Venezuela export cuts, OPEC production levels

> Brent settled up $1.96 to $77.32 and WTI rose to $65.95 after Venezuela's crude loadings fell nearly a month behind schedule. Tankers holding more than 24 million barrels are waiting at the main port, and traders are watching whether OPEC will raise output at its upcoming meeting.

- Date: 2026-11-13 · published 2026-11-13T21:13:05.075Z
- Category: geopolitics · region Venezuela · magnitude medium
- Page: https://feedsoft.ai/events/98492-oil-gains-on-venezuela-export-cuts-opec-production-levels
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower Venezuelan exports and possible OPEC restraint tighten crude supply, which lifts diesel and energy input costs for feed producers and processors. The rally also raises the cost of freight and fuel-linked inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-06-08 | [Oil prices top $40 as OPEC+ extends production cuts \| Fox Business](https://feedsoft.ai/events/52796-oil-prices-top-40-as-opec-extends-production-cuts-fox-business.md) | -7.2% | +3.3% |
| BRENT | 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) | +2.9% | +5.1% |
| BRENT | 2023-02-01 | [OPEC+ expected to keep oil production levels unchanged amidst global demand recovery](https://feedsoft.ai/events/37690-opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand.md) | -0.8% | -0.5% |
| BRENT | 2020-11-30 | [Opec agrees to extend existing oil production cuts: Abdelmadjid Attar](https://feedsoft.ai/events/50059-opec-agrees-to-extend-existing-oil-production-cuts-abdelmadjid-attar.md) | +3.5% | +7.0% |
| BRENT | 2018-05-11 | [Iranian Oil Squeeze Could Upset OPEC Agreement on Production Cuts](https://feedsoft.ai/events/65182-iranian-oil-squeeze-could-upset-opec-agreement-on-production-cuts.md) | +2.8% | -2.3% |
| WTI | 2020-06-08 | [Oil prices top $40 as OPEC+ extends production cuts \| Fox Business](https://feedsoft.ai/events/52796-oil-prices-top-40-as-opec-extends-production-cuts-fox-business.md) | -8.3% | +2.6% |
| 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% |
| WTI | 2023-02-01 | [OPEC+ expected to keep oil production levels unchanged amidst global demand recovery](https://feedsoft.ai/events/37690-opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand.md) | -2.2% | -1.7% |

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/article/oil-gains-venezuela-export-cuts-opec-production-levels

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