# OPEC+ keeps oil targets amid weakening economy, Russian sanctions | OPEC News | Al Jazeera

> OPEC+ kept its oil production targets on December 4, 2022, as markets weighed slowing Chinese demand against the G7 price cap and EU boycott on Russian oil. The EU embargo and $60 cap were set to begin the following day.

- Date: 2022-12-04 · published 2022-12-04T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38139-opec-keeps-oil-targets-amid-weakening-economy-russian-sanctions-opec-news-al
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Uncertainty over how much Russian crude leaves the market could tighten supply and lift prices, which raises energy and fertilizer costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-12-04 | [Opec+ sticks to current output targets ahead of Russia crude sanctions \| The National](https://feedsoft.ai/events/38143-opec-sticks-to-current-output-targets-ahead-of-russia-crude-sanctions-the.md) | -11.4% | -5.6% |
| BRENT | 2019-04-23 | [Oil surges amid OPEC caution to offset Iran sanctions](https://feedsoft.ai/events/9603-oil-surges-amid-opec-caution-to-offset-iran-sanctions.md) | -1.0% | +0.3% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |
| BRENT | 2025-10-23 | [Oil markets rally following US sanctions on Russian oil giants](https://feedsoft.ai/events/10176-oil-markets-rally-following-us-sanctions-on-russian-oil-giants.md) | +4.1% | +1.9% |
| BRENT | 2025-01-10 | [Oil prices rally 3% as US hits Russian oil with tougher sanctions](https://feedsoft.ai/events/10352-oil-prices-rally-3-as-us-hits-russian-oil-with-tougher-sanctions.md) | +5.4% | -4.2% |
| WTI | 2022-12-04 | [Opec+ sticks to current output targets ahead of Russia crude sanctions \| The National](https://feedsoft.ai/events/38143-opec-sticks-to-current-output-targets-ahead-of-russia-crude-sanctions-the.md) | -11.1% | -3.8% |
| WTI | 2019-04-23 | [Oil surges amid OPEC caution to offset Iran sanctions](https://feedsoft.ai/events/9603-oil-surges-amid-opec-caution-to-offset-iran-sanctions.md) | -3.4% | -3.9% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2022/12/4/opec-keeps-oil-targets-amid-weakening-economy-russian-sanctions

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