# Oil falls 2 percent on Russia output rise, potential Saudi price cut

> Oil fell more than 2 percent on Monday as Russian crude output rose in March to 10.97 million bpd from 10.95 million bpd in February, despite the existing supply cut agreement. Reports of a potential Saudi price cut also weighed on prices.

- Date: 2018-04-02 · published 2018-04-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10842-oil-falls-2-percent-on-russia-output-rise-potential-saudi-price-cut
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher Russian output under the OPEC+ cut deal raises doubts about supply discipline, adding bearish pressure on crude and related energy costs that feed into feed-grain transport and fuel.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-04-04 | 1 | -4.3% | -3.3 | Higher Russian output and talk of a Saudi price cut raised supply concerns and weighed on prices on April 2, contributing to the downward move. |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-falls-2-percent-on-russia-output-rise-potential-saudi-price-cut-idUSKCN1H9020/

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