# OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> OPEC+ ministers kept the 2.2 million bpd cuts unchanged at a February 1 panel meeting, and sources said the extension will be decided in March. The article notes that Houthi attacks on Red Sea shipping are adding support for prices.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/31567-opec-to-review-oil-cut-extension-in-march-ministers-leave-policy-unchanged
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Unchanged policy with a pending March decision leaves open a supply tightening that would support crude prices. Geopolitical risk in the Red Sea adds further support.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -1.1% | -4.3% |
| BRENT | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -9.8% | -5.2% |
| BRENT | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +8.0% | +7.2% |
| BRENT | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +5.6% | -1.0% |
| BRENT | 2024-02-01 | [OPEC+ leaves oil production levels unchanged, to review production cut extension in March](https://feedsoft.ai/events/31563-opec-leaves-oil-production-levels-unchanged-to-review-production-cut-extension.md) | -2.6% | +1.9% |
| WTI | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -3.0% | -6.5% |
| WTI | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -8.8% | -5.4% |
| WTI | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +6.0% | +8.3% |

## Sources

- energynow.com: https://energynow.com/2024/02/opec-to-review-oil-cut-extension-in-march-ministers-leave-policy-unchanged/

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