# OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says - Bloomberg

> Saudi Arabia's energy minister said OPEC+ will keep the oil production deal agreed in late 2022 in place for the rest of 2023. The comments were the most emphatic signal to date that quotas will remain unchanged throughout the year.

- Date: 2023-02-16 · published 2023-02-16T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37219-opec-deal-will-remain-in-place-all-year-saudi-minister-says-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Confirmed unchanged quotas keep crude supply constrained through 2023, which supports oil prices and the cost of energy inputs for feed processing.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-09-05 | [OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg](https://feedsoft.ai/events/39514-opec-will-remain-proactive-after-agreeing-production-cut-saudi-arabia-says.md) | -0.9% | -5.0% |
| BRENT | 2018-10-25 | [OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg](https://feedsoft.ai/events/62452-opec-lurches-from-pump-all-you-can-to-mulling-cuts-in-just-days-bloomberg.md) | -2.1% | -18.5% |
| BRENT | 2016-11-30 | [Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg](https://feedsoft.ai/events/9704-brent-oil-jumps-to-highest-in-more-than-a-year-after-opec-accord-bloomberg.md) | +16.7% | +22.1% |
| 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 | 2023-09-12 | [OPEC Oil Data Show 3 Million-Barrel Supply Shortfall as Saudi Arabia Extends Cut - Bloomberg](https://feedsoft.ai/events/34014-opec-oil-data-show-3-million-barrel-supply-shortfall-as-saudi-arabia-extends.md) | +4.3% | -1.7% |
| WTI | 2022-09-05 | [OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg](https://feedsoft.ai/events/39514-opec-will-remain-proactive-after-agreeing-production-cut-saudi-arabia-says.md) | +1.0% | -3.7% |
| WTI | 2018-10-25 | [OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg](https://feedsoft.ai/events/62452-opec-lurches-from-pump-all-you-can-to-mulling-cuts-in-just-days-bloomberg.md) | -2.0% | -18.3% |
| WTI | 2016-11-30 | [Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg](https://feedsoft.ai/events/9704-brent-oil-jumps-to-highest-in-more-than-a-year-after-opec-accord-bloomberg.md) | +12.5% | +19.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-02-16/opec-deal-will-remain-in-place-all-year-saudi-minister-says

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