# Q&A: Saudi Energy Minister Highlights Oil Market Risks | Energy Intelligence

> Saudi Energy Minister Prince Abdulaziz bin Salman told Energy Intelligence that the only sensible course for OPEC+ is to stick to the October production pact because of uncertainty in the global economy. He emphasized limited clarity on the oil market outlook.

- Date: 2023-03-14 · published 2023-03-14T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/36773-q-and-a-saudi-energy-minister-highlights-oil-market-risks-energy-intelligence
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Commitment to existing cuts keeps supply tight and supports crude, which affects diesel and biofuel feedstock costs that feed into soybean oil and meal pricing.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -8.9% | +7.8% |
| BRENT | 2023-07-05 | [Saudi energy minister says Riyadh-Moscow oil cuts showed unity with Russia](https://feedsoft.ai/events/34946-saudi-energy-minister-says-riyadh-moscow-oil-cuts-showed-unity-with-russia.md) | +5.3% | +12.8% |
| BRENT | 2018-06-05 | [Price Spike Fears Mount as IMO Sulfur Rule Nears \| Energy Intelligence](https://feedsoft.ai/events/64702-price-spike-fears-mount-as-imo-sulfur-rule-nears-energy-intelligence.md) | +1.6% | +3.6% |
| BRENT | 2020-08-21 | [Opec-Plus Laggards Agree to Extra Cuts \| Energy Intelligence](https://feedsoft.ai/events/51539-opec-plus-laggards-agree-to-extra-cuts-energy-intelligence.md) | +0.5% | -4.3% |
| 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% |
| WTI | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -9.5% | +9.1% |
| WTI | 2023-07-05 | [Saudi energy minister says Riyadh-Moscow oil cuts showed unity with Russia](https://feedsoft.ai/events/34946-saudi-energy-minister-says-riyadh-moscow-oil-cuts-showed-unity-with-russia.md) | +7.3% | +16.7% |
| WTI | 2020-08-21 | [Opec-Plus Laggards Agree to Extra Cuts \| Energy Intelligence](https://feedsoft.ai/events/51539-opec-plus-laggards-agree-to-extra-cuts-energy-intelligence.md) | +0.8% | -3.5% |

## Sources

- energyintel.com: https://www.energyintel.com/00000186-e11b-d0fe-a7ae-e51ffa6a0000

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