# OPEC+ agrees to make token supply cut to steady oil market

> OPEC+ agreed to a token supply cut of 100,000 barrels per day for October, returning output to August levels. The group said it would be willing to call another ministerial meeting at any time. Brent crude rose about 3.6% to near $96 a barrel 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/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The cut, though small in volume, signals a willingness to defend prices amid tightening markets from EU sanctions on Russian crude, supporting higher crude and energy costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-10-01 | [Oil up nearly 3% as OPEC+ agrees to small oil output cut](https://feedsoft.ai/events/39515-oil-up-nearly-3-as-opec-agrees-to-small-oil-output-cut.md) | +11.3% | +7.7% |
| BRENT | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.7% | +7.4% |
| BRENT | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | +1.6% | +4.5% |
| BRENT | 2026-09-06 | [OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ](https://feedsoft.ai/events/17380-opec-allies-agree-to-keep-oil-output-steady-in-october-wsj.md) | +12.0% | +18.6% |
| BRENT | 2024-04-08 | [Oil market to get “extremely tight” if OPEC continues supply cuts, Citadel reports](https://feedsoft.ai/events/30932-oil-market-to-get-extremely-tight-if-opec-continues-supply-cuts-citadel-reports.md) | -0.2% | -9.5% |
| WTI | 2022-10-01 | [Oil up nearly 3% as OPEC+ agrees to small oil output cut](https://feedsoft.ai/events/39515-oil-up-nearly-3-as-opec-agrees-to-small-oil-output-cut.md) | +16.5% | +10.2% |
| WTI | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.5% | +4.7% |
| WTI | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | -0.2% | +4.2% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2022/9/5/opec-agrees-to-make-token-supply-cut-to-steady-oil-market/

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