# Opec+ sticks to current output targets ahead of Russia crude sanctions | The National

> OPEC+ said it would keep its oil production targets, with the group's 23 members holding output steady ahead of EU sanctions on Russian crude. The G7 agreed a $60 price cap on Russian seaborne oil, and Moscow said it would not comply.

- Date: 2022-12-04 · published 2022-12-04T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38143-opec-sticks-to-current-output-targets-ahead-of-russia-crude-sanctions-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sanctions on Russian crude could reduce global supply and raise prices, which matters for energy and fertilizer input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-05-05 | [Opec+ sticks to June output plan as oil prices continue to rise   \| The National](https://feedsoft.ai/events/41320-opec-sticks-to-june-output-plan-as-oil-prices-continue-to-rise-the-national.md) | -2.5% | +8.0% |
| BRENT | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +1.2% | +3.7% |
| BRENT | 2022-03-31 | [Arab News \| OPEC+ sticks to current oil output plan despite consumers’ pressures](https://feedsoft.ai/events/42179-arab-news-opec-sticks-to-current-oil-output-plan-despite-consumers-pressures.md) | -11.9% | -6.8% |
| BRENT | 2022-12-04 | [OPEC+ keeps oil targets amid weakening economy, Russian sanctions \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/38139-opec-keeps-oil-targets-amid-weakening-economy-russian-sanctions-opec-news-al.md) | -11.4% | -5.6% |
| BRENT | 2025-02-03 | [Opec sticks to production plan despite Trump pressure \| The National](https://feedsoft.ai/events/25951-opec-sticks-to-production-plan-despite-trump-pressure-the-national.md) | -2.9% | -3.9% |
| WTI | 2022-05-05 | [Opec+ sticks to June output plan as oil prices continue to rise   \| The National](https://feedsoft.ai/events/41320-opec-sticks-to-june-output-plan-as-oil-prices-continue-to-rise-the-national.md) | -2.1% | +8.4% |
| WTI | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +3.2% | +3.5% |
| WTI | 2022-03-31 | [Arab News \| OPEC+ sticks to current oil output plan despite consumers’ pressures](https://feedsoft.ai/events/42179-arab-news-opec-sticks-to-current-oil-output-plan-despite-consumers-pressures.md) | -10.6% | -2.2% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/12/04/opec-sticks-to-current-output-targets-ahead-of-russia-crude-sanctions/

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