# OPEC+ expected to keep oil production levels unchanged amidst global demand recovery

> Bloomberg reports OPEC+ delegates expect a ministerial advisory committee to keep oil output levels unchanged at its meeting after prices neared $90 a barrel. Uncertainty remains over China's reopening recovery and the impact of EU sanctions on Russian crude.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/37690-opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Steady OPEC+ output with prices near $90 supports higher energy costs, which feed into transport and processing expenses for feed.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-01-24 | [OPEC+ Set To Keep Oil Production Unchanged \| OilPrice.com](https://feedsoft.ai/events/37688-opec-set-to-keep-oil-production-unchanged-oilprice-com.md) | -3.4% | -5.7% |
| BRENT | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -7.2% | +3.3% |
| BRENT | 2020-04-12 | [Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg](https://feedsoft.ai/events/53541-oil-news-opec-deal-to-cut-production-reached-price-war-ends-bloomberg.md) | -6.7% | +8.6% |
| BRENT | 2018-11-30 | [OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg](https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg.md) | +0.1% | -12.8% |
| BRENT | 2026-01-26 | [OPEC+ set to keep oil production pause for March as prices jump, sources say \| Reuters](https://feedsoft.ai/events/20969-opec-set-to-keep-oil-production-pause-for-march-as-prices-jump-sources-say.md) | +6.6% | +7.8% |
| WTI | 2023-01-24 | [OPEC+ Set To Keep Oil Production Unchanged \| OilPrice.com](https://feedsoft.ai/events/37688-opec-set-to-keep-oil-production-unchanged-oilprice-com.md) | -4.5% | -6.6% |
| WTI | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -8.3% | +2.6% |
| WTI | 2020-04-12 | [Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg](https://feedsoft.ai/events/53541-oil-news-opec-deal-to-cut-production-reached-price-war-ends-bloomberg.md) | -19.9% | +5.3% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2023/1/24/opec-expected-to-keep-oil-production-levels-unchanged-amidst-global-demand-recovery/

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