# OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg

> A panel led by Saudi Arabia recommended no policy changes at an online OPEC+ review meeting on April 3. Roughly 2 million barrels per day of output curbs will remain in place until the end of June.

- Date: 2024-04-03 · published 2024-04-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Continued curbs keep the crude market in a slight deficit, supporting prices near $90 a barrel. This raises energy costs that flow through to biofuel economics and farm input prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-10-04 | [Oil Supply: Saudis to Stick With 1 Million-Barrel A Day Cut - Bloomberg](https://feedsoft.ai/events/33521-oil-supply-saudis-to-stick-with-1-million-barrel-a-day-cut-bloomberg.md) | -3.7% | -8.8% |
| WTI | 2022-09-04 | [Oil Jumps Near $90 After OPEC+ Surprises With Token Supply Cut - Bloomberg](https://feedsoft.ai/events/39754-oil-jumps-near-90-after-opec-surprises-with-token-supply-cut-bloomberg.md) | +1.0% | -3.7% |
| 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% |
| WTI | 2019-11-28 | [OPEC+ Sends More Signals It’ll Stick With Current Oil Cuts - Bloomberg](https://feedsoft.ai/events/55951-opec-sends-more-signals-it-ll-stick-with-current-oil-cuts-bloomberg.md) | +0.5% | +6.2% |
| WTI | 2023-09-12 | [OPEC Oil Data Show 3 Million-Barrel Supply Shortfall as Saudi Arabia Extends Cut - Bloomberg](https://feedsoft.ai/events/34014-opec-oil-data-show-3-million-barrel-supply-shortfall-as-saudi-arabia-extends.md) | +4.8% | -3.8% |
| BRENT | 2023-10-04 | [Oil Supply: Saudis to Stick With 1 Million-Barrel A Day Cut - Bloomberg](https://feedsoft.ai/events/33521-oil-supply-saudis-to-stick-with-1-million-barrel-a-day-cut-bloomberg.md) | -3.8% | -6.0% |
| BRENT | 2022-09-04 | [Oil Jumps Near $90 After OPEC+ Surprises With Token Supply Cut - Bloomberg](https://feedsoft.ai/events/39754-oil-jumps-near-90-after-opec-surprises-with-token-supply-cut-bloomberg.md) | -0.9% | -5.0% |
| BRENT | 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) | -2.9% | -3.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-04-03/opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel
- ttnews.com: https://www.ttnews.com/articles/opec-keeps-supply-cuts

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