◂ Event Timeline

Feb 6, 2025POLICYGlobal

Q&A: Repercussions of Saudi Oil Decisions Amid Competing Trump and OPEC+ Priorities - Center on Global Energy Policy at Columbia University SIPA

OPEC+ held to its production plan on February 3 despite a request from President Trump to lower crude prices by boosting output. The group said it had held back 5.86 million bpd through measures since 2022.

WHY IT MATTERS

Keeping the planned production path intact means no added supply in the near term, which supports crude and the energy costs behind feed and freight.

AFFECTSCrude Oil (Brent)◆Crude Oil (WTI)◆

SOURCE
energypolicy.columbia.eduFeb 6, 2025

Price reaction & history

Crude Oil (Brent)◆neutralSO FAR1d -0.3%5d +0.8%20d -6.1%

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

Aug 18, 2022Q&A | Decoding OPEC+’s Lower Production Increase for September - Center on Global Energy Policy at Columbia University SIPA | CGEP+5.4%
Feb 2, 2021OPEC+ calm ahead of committee meeting as oil prices rise, but tough decisions loom | S&P Global+7.1%
May 30, 2018Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters — Octa-1.1%
Feb 27, 2025OPEC+ Rethinking Oil Production Rampup After Trump Complications | OilPrice.com-4.0%
Jul 18, 2024OPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say | Reuters-3.6%

Crude Oil (WTI)◆neutralSO FAR1d -0.6%5d +0.5%20d -6.6%

After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

Aug 18, 2022Q&A | Decoding OPEC+’s Lower Production Increase for September - Center on Global Energy Policy at Columbia University SIPA | CGEP+6.0%
Feb 2, 2021OPEC+ calm ahead of committee meeting as oil prices rise, but tough decisions loom | S&P Global+8.2%
May 30, 2018Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters — Octa-1.9%
Feb 27, 2025OPEC+ Rethinking Oil Production Rampup After Trump Complications | OilPrice.com-3.3%
Jul 18, 2024OPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say | Reuters-6.4%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (Brent) BRENT · GP ▸

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Crude Oil (WTI) WTI · GP ▸

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