# OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg

> OPEC+ agreed to cut its October output by 100,000 barrels per day, the first group-wide curb since 2020. Saudi Arabia, the group's leader, said the alliance is willing to take preemptive action to manage global crude markets. The move reverses the small September increase.

- Date: 2022-09-05 · published 2022-09-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39514-opec-will-remain-proactive-after-agreeing-production-cut-saudi-arabia-says
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A signal of proactive supply management points to firmer crude prices, which supports energy and fuel costs for feed and grain logistics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-02-16 | [OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says - Bloomberg](https://feedsoft.ai/events/37219-opec-deal-will-remain-in-place-all-year-saudi-minister-says-bloomberg.md) | -5.5% | -12.7% |
| BRENT | 2019-12-06 | [OPEC: Saudi Arabia and Russia impose deeper oil production cuts](https://feedsoft.ai/events/55491-opec-saudi-arabia-and-russia-impose-deeper-oil-production-cuts.md) | +1.4% | +7.8% |
| BRENT | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +7.4% | +1.0% |
| BRENT | 2018-01-21 | [Oil producers will cooperate beyond 2018, says Saudi Arabia](https://feedsoft.ai/events/66898-oil-producers-will-cooperate-beyond-2018-says-saudi-arabia.md) | +2.5% | -5.9% |
| BRENT | 2021-01-05 | [Saudi Arabia to Cut Oil Production Sharply in Bid to Lift Prices - WSJ](https://feedsoft.ai/events/49053-saudi-arabia-to-cut-oil-production-sharply-in-bid-to-lift-prices-wsj.md) | +8.9% | +11.2% |
| WTI | 2023-02-16 | [OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says - Bloomberg](https://feedsoft.ai/events/37219-opec-deal-will-remain-in-place-all-year-saudi-minister-says-bloomberg.md) | -4.2% | -13.2% |
| WTI | 2019-12-06 | [OPEC: Saudi Arabia and Russia impose deeper oil production cuts](https://feedsoft.ai/events/55491-opec-saudi-arabia-and-russia-impose-deeper-oil-production-cuts.md) | +1.3% | +7.9% |
| WTI | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +5.4% | -0.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-09-05/saudis-say-opec-will-remain-proactive-after-agreeing-output-cut

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