# Arab News | Saudi Arabia extends 1 million bpd oil output cut through December

> Saudi Arabia will extend its 1 million barrel per day voluntary oil production cut until the end of December 2023, according to the Saudi Press Agency. Output for October through December will be about 9 million barrels per day. The decision will be reviewed monthly.

- Date: 2023-09-05 · published 2023-09-05T12:00:00.000Z
- Category: policy · region Saudi Arabia · magnitude high
- Page: https://feedsoft.ai/events/34024-arab-news-saudi-arabia-extends-1-million-bpd-oil-output-cut-through-december
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The extended cut removes around 1 million barrels a day of supply, which supports crude prices and raises energy costs. Higher diesel and transport costs flow through to feed and grain logistics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-10-01 | [Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December](https://feedsoft.ai/events/34020-oil-prices-spike-as-saudi-arabia-russia-extend-1-3-million-barrel-a-day-oil-cut.md) | -9.8% | -5.2% |
| BRENT | 2019-04-01 | [Saudi Arabia to Extend Deep Oil Output Cuts Into April](https://feedsoft.ai/events/60021-saudi-arabia-to-extend-deep-oil-output-cuts-into-april.md) | +2.9% | +5.1% |
| BRENT | 2023-08-03 | [Saudi Arabia extends 1 million barrel-per-day oil cut, may deepen it in future \| Reuters](https://feedsoft.ai/events/34491-saudi-arabia-extends-1-million-barrel-per-day-oil-cut-may-deepen-it-in-future.md) | +5.8% | +3.2% |
| BRENT | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -1.2% | +3.1% |
| BRENT | 2023-12-01 | [OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts \| Euronews](https://feedsoft.ai/events/32491-opec-meeting-russia-and-saudi-arabia-extend-oil-output-cuts-euronews.md) | -9.9% | -6.0% |
| WTI | 2023-10-01 | [Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December](https://feedsoft.ai/events/34020-oil-prices-spike-as-saudi-arabia-russia-extend-1-3-million-barrel-a-day-oil-cut.md) | -8.8% | -5.4% |
| WTI | 2019-04-01 | [Saudi Arabia to Extend Deep Oil Output Cuts Into April](https://feedsoft.ai/events/60021-saudi-arabia-to-extend-deep-oil-output-cuts-into-april.md) | +4.9% | +5.4% |
| WTI | 2023-08-03 | [Saudi Arabia extends 1 million barrel-per-day oil cut, may deepen it in future \| Reuters](https://feedsoft.ai/events/34491-saudi-arabia-extends-1-million-barrel-per-day-oil-cut-may-deepen-it-in-future.md) | +6.1% | +2.7% |

## Sources

- arabnews.com: https://www.arabnews.com/business/saudi-arabia-extends-1-million-bpd-oil-output-cut-through-december-2367851

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