# EXPLAINER: How will OPEC+ cuts affect gas prices, inflation? | AP News

> An AP explainer describes how the OPEC+ decision to cut 2 million barrels per day will affect gasoline prices and inflation. It notes that part of the cut exists only on paper, so actual reductions are closer to 1.2 million bpd.

- Date: 2022-10-07 · published 2022-10-07T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39059-explainer-how-will-opec-cuts-affect-gas-prices-inflation-ap-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Because the effective cut is about 1.2 million bpd, the price support is smaller than the headline suggests. Still, tighter crude supply can keep fuel and energy costs elevated.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-10-06 | [Why is OPEC+ cutting oil production and what’s next? \| Explainer News \| Al Jazeera](https://feedsoft.ai/events/39328-why-is-opec-cutting-oil-production-and-what-s-next-explainer-news-al-jazeera.md) | -0.5% | +2.2% |
| WTI | 2024-12-05 | [Explainer: How are OPEC+ oil producers unwinding their output cuts?](https://feedsoft.ai/events/26875-explainer-how-are-opec-oil-producers-unwinding-their-output-cuts.md) | +2.6% | +8.3% |
| WTI | 2017-02-01 | [Arab News \| Crude prices rise as OPEC cuts output as promised](https://feedsoft.ai/events/72674-arab-news-crude-prices-rise-as-opec-cuts-output-as-promised.md) | -1.1% | +2.0% |
| WTI | 2022-02-02 | [Caution from OPEC+ producers to keep oil prices high \| AP News](https://feedsoft.ai/events/42630-caution-from-opec-producers-to-keep-oil-prices-high-ap-news.md) | +1.3% | +25.5% |
| WTI | 2018-03-29 | [Oil prices gain on expectation of continued Opec supply curbs in 2018 \| The National](https://feedsoft.ai/events/66167-oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-the.md) | -1.2% | +6.0% |
| BRENT | 2022-10-06 | [Why is OPEC+ cutting oil production and what’s next? \| Explainer News \| Al Jazeera](https://feedsoft.ai/events/39328-why-is-opec-cutting-oil-production-and-what-s-next-explainer-news-al-jazeera.md) | -1.0% | +2.4% |
| BRENT | 2024-12-05 | [Explainer: How are OPEC+ oil producers unwinding their output cuts?](https://feedsoft.ai/events/26875-explainer-how-are-opec-oil-producers-unwinding-their-output-cuts.md) | +0.6% | +4.3% |
| BRENT | 2017-02-01 | [Arab News \| Crude prices rise as OPEC cuts output as promised](https://feedsoft.ai/events/72674-arab-news-crude-prices-rise-as-opec-cuts-output-as-promised.md) | -1.9% | -1.8% |

## Sources

- apnews.com: https://apnews.com/article/russia-ukraine-inflation-economy-moscow-prices-9bcc886c4d5f8d341cf8939f88705781

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