# OPEC+ shifts meeting online as officials anticipate extending oil production cuts

> OPEC+ will hold its June policy meeting online rather than in person, and delegates expect the group to extend its roughly 2 million bpd of supply curbs into the second half of the year. Crude traders also expect the cuts to be maintained.

- Date: 2024-05-24 · published 2024-05-24T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30159-opec-shifts-meeting-online-as-officials-anticipate-extending-oil-production-cuts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of a rollover of supply curbs support crude prices, which feed into diesel, freight and energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.3% | +4.3% |
| BRENT | 2024-02-05 | [OPEC+ to decide on extending oil production cuts into Q2 2024 in March](https://feedsoft.ai/events/31564-opec-to-decide-on-extending-oil-production-cuts-into-q2-2024-in-march.md) | +5.7% | +7.3% |
| BRENT | 2017-04-26 | [Is An Extension Of OPEC's Oil Production Cuts Really A Done Deal? \| Investing.com](https://feedsoft.ai/events/71417-is-an-extension-of-opec-s-oil-production-cuts-really-a-done-deal-investing-com.md) | -1.6% | +5.8% |
| BRENT | 2021-03-04 | [Oil prices surge as OPEC and its allies extend production cuts \| CNN Business](https://feedsoft.ai/events/48045-oil-prices-surge-as-opec-and-its-allies-extend-production-cuts-cnn-business.md) | +5.2% | -1.3% |
| BRENT | 2024-05-03 | [OPEC+ likely to extend production cuts in June](https://feedsoft.ai/events/30161-opec-likely-to-extend-production-cuts-in-june.md) | -0.8% | -4.4% |
| WTI | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.2% | +4.9% |
| WTI | 2024-02-05 | [OPEC+ to decide on extending oil production cuts into Q2 2024 in March](https://feedsoft.ai/events/31564-opec-to-decide-on-extending-oil-production-cuts-into-q2-2024-in-march.md) | +6.3% | +9.4% |
| WTI | 2017-04-26 | [Is An Extension Of OPEC's Oil Production Cuts Really A Done Deal? \| Investing.com](https://feedsoft.ai/events/71417-is-an-extension-of-opec-s-oil-production-cuts-really-a-done-deal-investing-com.md) | -3.4% | +3.9% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2024/5/24/opec-shifts-meeting-online-as-officials-anticipate-extending-oil-production-cuts/

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