# OPEC does not control price of oil, says cartel chief | OPEC News | Al Jazeera

> OPEC President Gabriel Mbaga Obiang Lima told Al Jazeera the group is taking a wait-and-watch approach to output cuts amid market uncertainty. He stated OPEC does not control oil prices and aims to keep supply and demand stable ahead of the February 1 meeting.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/37689-opec-does-not-control-price-of-oil-says-cartel-chief-opec-news-al-jazeera
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A cautious stance on output keeps the supply cuts in place, which supports crude prices while demand from China is uncertain.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-12-01 | [OPEC+ mulls oil output as Omicron uncertainty weighs on markets \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/6816-opec-mulls-oil-output-as-omicron-uncertainty-weighs-on-markets-opec-news-al.md) | +6.8% | +9.0% |
| BRENT | 2023-01-30 | [Putin, MBS Discuss Oil Strategy Ahead Of OPEC+ Meeting \| OilPrice.com](https://feedsoft.ai/events/37949-putin-mbs-discuss-oil-strategy-ahead-of-opec-meeting-oilprice-com.md) | -7.7% | -3.8% |
| BRENT | 2026-04-06 | [OPEC+ to hike crude output: Will it make a difference to oil prices? \| Euronews](https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews.md) | -9.7% | -4.1% |
| BRENT | 2026-04-29 | [In five charts: How UAE's exit could affect Opec's influence over the oil price](https://feedsoft.ai/events/19884-in-five-charts-how-uae-s-exit-could-affect-opec-s-influence-over-the-oil-price.md) | -1.9% | -16.4% |
| BRENT | 2025-11-30 | [OPEC+ Holds Output Steady, Approves New Capacity Framework Through 2026 \| OilPrice.com](https://feedsoft.ai/events/21875-opec-holds-output-steady-approves-new-capacity-framework-through-2026-oilprice.md) | +0.7% | -1.8% |
| WTI | 2021-12-01 | [OPEC+ mulls oil output as Omicron uncertainty weighs on markets \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/6816-opec-mulls-oil-output-as-omicron-uncertainty-weighs-on-markets-opec-news-al.md) | +8.8% | +15.8% |
| WTI | 2023-01-30 | [Putin, MBS Discuss Oil Strategy Ahead Of OPEC+ Meeting \| OilPrice.com](https://feedsoft.ai/events/37949-putin-mbs-discuss-oil-strategy-ahead-of-opec-meeting-oilprice-com.md) | -7.9% | -5.2% |
| WTI | 2026-04-06 | [OPEC+ to hike crude output: Will it make a difference to oil prices? \| Euronews](https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews.md) | -13.2% | -7.5% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2023/1/31/opec-does-not-control-the-price-opec-president

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