# OPEC+ makes small trim to world oil supplies as prices fall | AP News

> OPEC+ agreed a small supply cut of 100,000 barrels per day for October, which is only a small fraction of its 43.8 million bpd production goals. The decision caught several analysts off guard, who had expected no change, and oil prices jumped after the announcement.

- Date: 2022-09-05 · published 2022-09-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39511-opec-makes-small-trim-to-world-oil-supplies-as-prices-fall-ap-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The cut signals OPEC+ willingness to act pre-emptively to support crude prices, which tends to lift energy costs for feed producers and supports competing energy-linked feedstocks.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-02-28 | [How OPEC's refusal to ease supply hike oil prices \| Daily Times Nigeria News - Nigeria and World NewsDAILY TIMES Nigeria](https://feedsoft.ai/events/60763-how-opec-s-refusal-to-ease-supply-hike-oil-prices-daily-times-nigeria-news.md) | -1.1% | +2.5% |
| BRENT | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | +1.5% | -6.3% |
| BRENT | 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) | +4.1% | +20.3% |
| BRENT | 2023-12-01 | [OPEC plans more cuts to boost worldwide oil prices](https://feedsoft.ai/events/32490-opec-plans-more-cuts-to-boost-worldwide-oil-prices.md) | -9.9% | -6.0% |
| BRENT | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.3% | +7.2% |
| WTI | 2019-02-28 | [How OPEC's refusal to ease supply hike oil prices \| Daily Times Nigeria News - Nigeria and World NewsDAILY TIMES Nigeria](https://feedsoft.ai/events/60763-how-opec-s-refusal-to-ease-supply-hike-oil-prices-daily-times-nigeria-news.md) | -1.2% | +4.3% |
| WTI | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | -2.2% | -10.4% |
| 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% |

## Sources

- apnews.com: https://apnews.com/article/russia-ukraine-covid-health-economy-prices-89c2cf3eeecb02e9d01c3ed01e7d7506

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