# Opec+ sticks to current output policy after oil price rally | The National

> OPEC+ kept its current output policy after an oil price rally, with its monitoring committee saying it stands ready to take additional measures at any time. Saudi Arabia will maintain its 1 million bpd cut until December, and Russia will roll over its 300,000 bpd export cut through 2023.

- Date: 2023-10-04 · published 2023-10-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33522-opec-sticks-to-current-output-policy-after-oil-price-rally-the-national
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Holding the existing cuts keeps global crude supply constrained into the fourth quarter, which supports diesel and fuel costs. Analysts expect a tighter market, though the group's willingness to act further adds upside risk.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-08-04 | [OPEC+ Sticks To Oil Output Policy As Saudi Extends Voluntary Production Cut](https://feedsoft.ai/events/34492-opec-sticks-to-oil-output-policy-as-saudi-extends-voluntary-production-cut.md) | +1.5% | +2.5% |
| WTI | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +5.4% | -0.0% |
| WTI | 2021-10-04 | [OPEC+ sticks to plan for gradual oil output hike, price roars higher](https://feedsoft.ai/events/44442-opec-sticks-to-plan-for-gradual-oil-output-hike-price-roars-higher.md) | +4.6% | +9.9% |
| WTI | 2021-02-03 | [OPEC+ maintains oil policy amid price rally](https://feedsoft.ai/events/48551-opec-maintains-oil-policy-amid-price-rally.md) | +6.5% | +12.0% |
| WTI | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +2.8% | +16.0% |
| BRENT | 2023-02-01 | [Opec+ sticks to oil output policy after brief meeting - The Business Times](https://feedsoft.ai/events/37229-opec-sticks-to-oil-output-policy-after-brief-meeting-the-business-times.md) | -0.8% | -0.5% |
| BRENT | 2023-08-04 | [OPEC+ Sticks To Oil Output Policy As Saudi Extends Voluntary Production Cut](https://feedsoft.ai/events/34492-opec-sticks-to-oil-output-policy-as-saudi-extends-voluntary-production-cut.md) | +1.5% | +1.6% |
| BRENT | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +7.4% | +1.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2023/10/04/opec-sticks-to-current-output-policy-after-oil-price-rally/

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