# Russia announces cut to oil output over Western price caps | AP News

> Russia announced an oil output cut in response to Western price caps. Brent traded 1.5% higher at $85.75 a barrel.

- Date: 2023-02-10 · published 2023-02-10T12:00:00.000Z
- Category: geopolitics · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/37493-russia-announces-cut-to-oil-output-over-western-price-caps-ap-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A Russian production cut tightens crude supply, which can lift diesel and fertilizer costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-12-23 | [Oil rises $3/bbl after Russia signals output cut due to price cap](https://feedsoft.ai/events/38393-oil-rises-3-bbl-after-russia-signals-output-cut-due-to-price-cap.md) | +5.1% | +9.5% |
| BRENT | 2020-04-12 | [Record deal to cut oil output ends price war - BBC News](https://feedsoft.ai/events/53543-record-deal-to-cut-oil-output-ends-price-war-bbc-news.md) | -6.7% | +8.6% |
| BRENT | 2020-04-09 | [Saudi Arabia and Russia end their oil-price war with output cut agreement](https://feedsoft.ai/events/53548-saudi-arabia-and-russia-end-their-oil-price-war-with-output-cut-agreement.md) | -20.8% | -7.2% |
| BRENT | 2020-04-13 | [OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic](https://feedsoft.ai/events/53540-opec-russia-approve-biggest-ever-oil-cut-to-support-prices-amid-coronavirus.md) | -6.7% | +8.6% |
| BRENT | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.6% | -3.2% |
| WTI | 2022-12-23 | [Oil rises $3/bbl after Russia signals output cut due to price cap](https://feedsoft.ai/events/38393-oil-rises-3-bbl-after-russia-signals-output-cut-due-to-price-cap.md) | +3.3% | +3.0% |
| WTI | 2020-04-12 | [Record deal to cut oil output ends price war - BBC News](https://feedsoft.ai/events/53543-record-deal-to-cut-oil-output-ends-price-war-bbc-news.md) | -19.9% | +5.3% |
| WTI | 2020-04-09 | [Saudi Arabia and Russia end their oil-price war with output cut agreement](https://feedsoft.ai/events/53548-saudi-arabia-and-russia-end-their-oil-price-war-with-output-cut-agreement.md) | -20.7% | -1.1% |

## Sources

- apnews.com: https://apnews.com/article/russia-ukraine-business-65edbc5ba28370c0face621b7db0ce74

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