# OPEC+ discuss keeping voluntary oil cuts until year-end, sources say | Reuters

> OPEC+ is discussing whether to keep its voluntary oil cuts in place until the end of 2024, according to sources. The group currently cuts output by 5.86 million bpd, about 5.7% of global demand.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30157-opec-discuss-keeping-voluntary-oil-cuts-until-year-end-sources-say-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Keeping cuts in place through year-end removes supply from the market and supports crude prices, which affects feed-linked energy and biofuel costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-11-30 | [Instant view: OPEC+ announces voluntary oil output cuts \| Reuters](https://feedsoft.ai/events/33083-instant-view-opec-announces-voluntary-oil-output-cuts-reuters.md) | -10.5% | -5.2% |
| BRENT | 2024-09-04 | [OPEC+ discussing delay to planned oil output hike in October, sources say \| Reuters](https://feedsoft.ai/events/11570-opec-discussing-delay-to-planned-oil-output-hike-in-october-sources-say-reuters.md) | -7.1% | -0.9% |
| BRENT | 2023-10-04 | [Saudi Arabia, Russia to continue voluntary oil cuts \| Reuters](https://feedsoft.ai/events/33520-saudi-arabia-russia-to-continue-voluntary-oil-cuts-reuters.md) | -3.8% | -6.0% |
| BRENT | 2021-10-04 | [OPEC+ agrees to stick to existing oil output plan, sources say \| Reuters](https://feedsoft.ai/events/44443-opec-agrees-to-stick-to-existing-oil-output-plan-sources-say-reuters.md) | +3.7% | +5.5% |
| BRENT | 2021-03-04 | [OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb](https://feedsoft.ai/events/48039-opec-extends-most-oil-output-cuts-into-april-saudi-keeps-voluntary-curb.md) | +5.2% | -1.3% |
| WTI | 2023-11-30 | [Instant view: OPEC+ announces voluntary oil output cuts \| Reuters](https://feedsoft.ai/events/33083-instant-view-opec-announces-voluntary-oil-output-cuts-reuters.md) | -11.0% | -7.4% |
| WTI | 2024-09-04 | [OPEC+ discussing delay to planned oil output hike in October, sources say \| Reuters](https://feedsoft.ai/events/11570-opec-discussing-delay-to-planned-oil-output-hike-in-october-sources-say-reuters.md) | -6.4% | -1.1% |
| WTI | 2023-10-04 | [Saudi Arabia, Russia to continue voluntary oil cuts \| Reuters](https://feedsoft.ai/events/33520-saudi-arabia-russia-to-continue-voluntary-oil-cuts-reuters.md) | -3.7% | -8.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/opec-discuss-keeping-voluntary-oil-cuts-until-year-end-sources-say-2024-05-30/

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