# OPEC to wait for calmer financial markets before making oil production cut decision

> Energy Aspects said OPEC+ will likely wait for financial markets to calm before deciding whether to cut production after crude fell to a 15-month low. Brent was down about 10% that week, and the monitoring committee is next scheduled to meet on April 3.

- Date: 2023-03-16 · published 2023-03-16T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/36771-opec-to-wait-for-calmer-financial-markets-before-making-oil-production-cut
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible output cut would tighten supply and lift crude, but the group is expected to hold off until markets stabilize, leaving near-term prices under pressure.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-10-02 | [OPEC+ Makes No Changes to Plans for Reviving Oil Production \| Financial Post](https://feedsoft.ai/events/27769-opec-makes-no-changes-to-plans-for-reviving-oil-production-financial-post.md) | +4.4% | -4.5% |
| BRENT | 2025-02-05 | [MEED \| Opec+ decides to adhere to oil production policy](https://feedsoft.ai/events/25947-meed-opec-decides-to-adhere-to-oil-production-policy.md) | +1.2% | -6.2% |
| BRENT | 2022-10-31 | [OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg](https://feedsoft.ai/events/39056-opec-says-supply-surplus-was-main-reason-for-oil-production-cut-bloomberg.md) | +4.0% | -12.3% |
| BRENT | 2023-11-30 | [OPEC+ opts for 'voluntary cuts' in oil production, invites Brazil to join - EFE](https://feedsoft.ai/events/33088-opec-opts-for-voluntary-cuts-in-oil-production-invites-brazil-to-join-efe.md) | -10.5% | -5.2% |
| BRENT | 2017-12-01 | [For How Long Will OPEC Extend Production Cuts?](https://feedsoft.ai/events/68171-for-how-long-will-opec-extend-production-cuts.md) | -2.0% | +4.9% |
| WTI | 2024-10-02 | [OPEC+ Makes No Changes to Plans for Reviving Oil Production \| Financial Post](https://feedsoft.ai/events/27769-opec-makes-no-changes-to-plans-for-reviving-oil-production-financial-post.md) | +5.4% | -4.0% |
| WTI | 2025-02-05 | [MEED \| Opec+ decides to adhere to oil production policy](https://feedsoft.ai/events/25947-meed-opec-decides-to-adhere-to-oil-production-policy.md) | +0.9% | -8.8% |
| WTI | 2022-10-31 | [OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg](https://feedsoft.ai/events/39056-opec-says-supply-surplus-was-main-reason-for-oil-production-cut-bloomberg.md) | +5.4% | -12.2% |

## Sources

- worldoil.com: https://worldoil.com/news/2023/3/16/opec-to-wait-for-calmer-financial-markets-before-making-oil-production-cut-decision/

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