# OPEC+ keeps output policy steady as oil nears $90 a barrel

> OPEC+ ministers kept their oil supply policy unchanged at a meeting on April 3, 2024, and pressed some members to improve compliance with output cuts. The decision helped push international crude to its highest level in five months, near $90 a barrel.

- Date: 2024-04-03 · published 2024-04-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30641-opec-keeps-output-policy-steady-as-oil-nears-90-a-barrel
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Holding the cuts in place keeps supply tight, which supports crude prices and feeds into energy and biofuel costs for feed producers. Higher crude also tends to lift diesel and fertilizer input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-04-03 | [OPEC+ ministers keep oil output policy steady \| Arab News](https://feedsoft.ai/events/30645-opec-ministers-keep-oil-output-policy-steady-arab-news.md) | +2.8% | -0.3% |
| BRENT | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +2.8% | -0.3% |
| BRENT | 2026-10-01 | [OPEC+ keeps output policy unchanged for October](https://feedsoft.ai/events/17381-opec-keeps-output-policy-unchanged-for-october.md) | +2.6% | +8.8% |
| BRENT | 2024-04-03 | [OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg](https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg.md) | +2.8% | -0.3% |
| BRENT | 2026-09-06 | [OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ](https://feedsoft.ai/events/17380-opec-allies-agree-to-keep-oil-output-steady-in-october-wsj.md) | +12.0% | +18.6% |
| WTI | 2024-04-03 | [OPEC+ ministers keep oil output policy steady \| Arab News](https://feedsoft.ai/events/30645-opec-ministers-keep-oil-output-policy-steady-arab-news.md) | +0.1% | -3.2% |
| WTI | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +0.1% | -3.2% |
| WTI | 2026-10-01 | [OPEC+ keeps output policy unchanged for October](https://feedsoft.ai/events/17381-opec-keeps-output-policy-unchanged-for-october.md) | -2.3% | +8.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-ministers-keep-oil-output-policy-steady-sources-say-2024-04-03/

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