# Crude Leaps as OPEC+ Eyes Meeting Date, Europe Talks Stimulus - Bloomberg

> Oil surged to its biggest gain in five months after OPEC and its allies moved closer to a meeting to extend supply cuts. Prices jumped as much as 4.6% on reports that OPEC had proposed a meeting date, while the European Central Bank signaled possible new stimulus.

- Date: 2019-06-17 · published 2019-06-17T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12320-crude-leaps-as-opec-eyes-meeting-date-europe-talks-stimulus-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Expectations of extended OPEC+ output cuts tighten global crude supply, supporting energy and biofuel-linked feedstock prices. ECB stimulus hopes could also support demand and the euro, which affects dollar-priced commodities.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -1.4% | -2.5% |
| WTI | 2019-10-17 | [OPEC’s Next Meeting May Unveil New Approach: Preemption - Bloomberg](https://feedsoft.ai/events/56466-opec-s-next-meeting-may-unveil-new-approach-preemption-bloomberg.md) | +4.7% | +6.7% |
| WTI | 2018-12-06 | [Crude Climbs as OPEC and Allies Finalize Production Limitations - Bloomberg](https://feedsoft.ai/events/10631-crude-climbs-as-opec-and-allies-finalize-production-limitations-bloomberg.md) | -3.3% | -9.5% |
| WTI | 2023-04-02 | [Oil leaps 6% as OPEC+ shocks markets by cutting output target](https://feedsoft.ai/events/7946-oil-leaps-6-as-opec-shocks-markets-by-cutting-output-target.md) | +5.4% | -0.0% |
| WTI | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.1% | -5.8% |
| BRENT | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -4.2% | -6.1% |
| BRENT | 2019-10-17 | [OPEC’s Next Meeting May Unveil New Approach: Preemption - Bloomberg](https://feedsoft.ai/events/56466-opec-s-next-meeting-may-unveil-new-approach-preemption-bloomberg.md) | +2.5% | +5.0% |
| BRENT | 2018-12-06 | [Crude Climbs as OPEC and Allies Finalize Production Limitations - Bloomberg](https://feedsoft.ai/events/10631-crude-climbs-as-opec-and-allies-finalize-production-limitations-bloomberg.md) | -2.7% | -8.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-06-17/oil-holds-near-lows-on-soft-demand-outlook-opec-uncertainty

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