# OPEC+ likely to stick to its guns despite price slump, delegates say - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Three OPEC+ delegates said the group is likely to keep its 2 million bpd output cut through year-end despite a price slump to 15-month lows. Russia will continue its separate 500,000 bpd cut until the end of June.

- Date: 2023-03-22 · published 2023-03-22T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37048-opec-likely-to-stick-to-its-guns-despite-price-slump-delegates-say-energy-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Maintaining supply restraint limits downside in crude prices, which supports energy costs and biofuel feedstock economics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-03-22 | [OPEC+ likely to stick to its guns despite price slump, delegates say \| Reuters](https://feedsoft.ai/events/36767-opec-likely-to-stick-to-its-guns-despite-price-slump-delegates-say-reuters.md) | +4.4% | +12.2% |
| BRENT | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +5.6% | -1.0% |
| BRENT | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -9.8% | -5.2% |
| BRENT | 2018-04-12 | [OPEC Switches Operational Target from Inventories to Investment: Kemp - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65430-opec-switches-operational-target-from-inventories-to-investment-kemp-energy.md) | +1.7% | +6.9% |
| 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 | 2023-03-22 | [OPEC+ likely to stick to its guns despite price slump, delegates say \| Reuters](https://feedsoft.ai/events/36767-opec-likely-to-stick-to-its-guns-despite-price-slump-delegates-say-reuters.md) | +5.4% | +14.1% |
| WTI | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +11.9% | +7.2% |
| WTI | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -8.8% | -5.4% |

## Sources

- energynow.com: https://energynow.com/2023/03/opec-likely-to-stick-to-its-guns-despite-price-slump-delegates-say/

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