# Balances: Opec-Plus’ Painful Cuts Deliver Full Market Control | Energy Intelligence

> Energy Intelligence says OPEC+ extended supply cuts into the second quarter with near-perfect compliance, giving it firm control of market balances. Brent near $90 includes an estimated political premium of at least $5 per barrel tied to Ukraine-Russia and Israel-Iran risks.

- Date: 2024-04-16 · published 2024-04-16T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30901-balances-opec-plus-painful-cuts-deliver-full-market-control-energy-intelligence
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

OPEC+ control and a geopolitical premium keep crude elevated, which raises diesel and fertilizer costs and supports biofuel-linked oil demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-10-24 | [New US Russia Sanctions Spook Distillate Markets \| Energy Intelligence](https://feedsoft.ai/events/10174-new-us-russia-sanctions-spook-distillate-markets-energy-intelligence.md) | -1.7% | -4.0% |
| BRENT | 2025-06-13 | [Jet Fuel Prices Spike After Israel Attacks Iran \| Energy Intelligence](https://feedsoft.ai/events/7761-jet-fuel-prices-spike-after-israel-attacks-iran-energy-intelligence.md) | +12.0% | -0.8% |
| BRENT | 2024-11-27 | [War Risk Premium Drives Diesel Gains \| Energy Intelligence](https://feedsoft.ai/events/27576-war-risk-premium-drives-diesel-gains-energy-intelligence.md) | +0.7% | -0.2% |
| BRENT | 2022-06-02 | [OPEC+ raises output faster as Russia's war roils global energy markets](https://feedsoft.ai/events/40838-opec-raises-output-faster-as-russia-s-war-roils-global-energy-markets.md) | +6.0% | -0.6% |
| BRENT | 2019-03-04 | [OPEC will likely balance the oil market by next month: Goldman Sachs](https://feedsoft.ai/events/60282-opec-will-likely-balance-the-oil-market-by-next-month-goldman-sachs.md) | +2.0% | +5.9% |
| WTI | 2022-02-23 | [Palm oil futures hit all-time high on bullish global energy, vegetable oil markets](https://feedsoft.ai/events/8760-palm-oil-futures-hit-all-time-high-on-bullish-global-energy-vegetable-oil.md) | +12.4% | +20.7% |
| WTI | 2022-06-02 | [OPEC+ raises output faster as Russia's war roils global energy markets](https://feedsoft.ai/events/40838-opec-raises-output-faster-as-russia-s-war-roils-global-energy-markets.md) | +5.8% | -7.1% |
| WTI | 2019-03-04 | [OPEC will likely balance the oil market by next month: Goldman Sachs](https://feedsoft.ai/events/60282-opec-will-likely-balance-the-oil-market-by-next-month-goldman-sachs.md) | +0.2% | +7.9% |

## Sources

- energyintel.com: https://www.energyintel.com/0000018e-5355-d7f2-a9bf-77f536e40003

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