# Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap  - analysts

> Analysts say a global crude shortfall will deepen in the third quarter as Saudi Arabia pledged extra output cuts from July. They expect Brent could move toward $100 a barrel by year end.

- Date: 2023-06-05 · published 2023-06-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35656-brent-may-rise-toward-100-bbl-as-saudi-output-cut-could-worsen-supply-gap
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected tightening in crude supply raises energy and freight costs for feed buyers and supports diesel-linked logistics expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-04-03 | [Brent crude jumps $5/bbl after output cuts; stocks rise](https://feedsoft.ai/events/7949-brent-crude-jumps-5-bbl-after-output-cuts-stocks-rise.md) | +7.4% | +1.0% |
| BRENT | 2021-08-30 | [Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place \| OilPrice.com](https://feedsoft.ai/events/45476-oil-could-rise-further-as-opec-suggests-keeping-output-cuts-in-place-oilprice.md) | +0.5% | +7.3% |
| BRENT | 2023-06-04 | [Oil rises on Saudi plan to deepen output cuts from July \| Reuters](https://feedsoft.ai/events/35654-oil-rises-on-saudi-plan-to-deepen-output-cuts-from-july-reuters.md) | -1.7% | -1.8% |
| BRENT | 2021-01-05 | [Saudis Take Charge of Oil Market With Surprise Output Cut - Bloomberg](https://feedsoft.ai/events/49055-saudis-take-charge-of-oil-market-with-surprise-output-cut-bloomberg.md) | +8.9% | +11.2% |
| 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% |
| WTI | 2023-04-03 | [Brent crude jumps $5/bbl after output cuts; stocks rise](https://feedsoft.ai/events/7949-brent-crude-jumps-5-bbl-after-output-cuts-stocks-rise.md) | +5.4% | -0.0% |
| WTI | 2021-08-30 | [Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place \| OilPrice.com](https://feedsoft.ai/events/45476-oil-could-rise-further-as-opec-suggests-keeping-output-cuts-in-place-oilprice.md) | +0.8% | +9.7% |
| WTI | 2023-06-04 | [Oil rises on Saudi plan to deepen output cuts from July \| Reuters](https://feedsoft.ai/events/35654-oil-rises-on-saudi-plan-to-deepen-output-cuts-from-july-reuters.md) | -2.2% | -2.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/brent-may-rise-toward-100bbl-saudi-output-cut-could-worsen-supply-gap-analysts-2023-06-05/

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