# Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds | The National

> OPEC+ agreed to cut its October crude output by 100,000 barrels per day, reverting to August 2022 production levels. The decision follows a September increase and comes amid slowing global growth and possible returning Iranian supply. The group will hold its next meeting on October 5 and may call a ministerial meeting at any time.

- Date: 2022-09-05 · published 2022-09-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39518-opec-agrees-to-cut-october-crude-supply-by-100-000-bpd-amid-demand-headwinds
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The cut supports crude prices, though the offsetting risk of a potential Iran nuclear deal limits the upside, which affects energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-07-02 | [Opec agrees to extend cuts for nine months amid demand concerns \| The National](https://feedsoft.ai/events/58008-opec-agrees-to-extend-cuts-for-nine-months-amid-demand-concerns-the-national.md) | -0.9% | -3.2% |
| BRENT | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +1.5% | -15.1% |
| BRENT | 2020-02-11 | [OPEC+ agrees additional crude oil production cut, up to 1.7 mb/d \| Enerdata](https://feedsoft.ai/events/54526-opec-agrees-additional-crude-oil-production-cut-up-to-1-7-mb-d-enerdata.md) | +8.0% | -34.7% |
| BRENT | 2022-09-05 | [OPEC+ agrees to make token supply cut to steady oil market](https://feedsoft.ai/events/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market.md) | -0.9% | -5.0% |
| BRENT | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +7.4% | +1.0% |
| WTI | 2019-07-02 | [Opec agrees to extend cuts for nine months amid demand concerns \| The National](https://feedsoft.ai/events/58008-opec-agrees-to-extend-cuts-for-nine-months-amid-demand-concerns-the-national.md) | -2.2% | -1.6% |
| WTI | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +0.5% | -17.6% |
| WTI | 2020-02-11 | [OPEC+ agrees additional crude oil production cut, up to 1.7 mb/d \| Enerdata](https://feedsoft.ai/events/54526-opec-agrees-additional-crude-oil-production-cut-up-to-1-7-mb-d-enerdata.md) | +5.0% | -30.6% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/09/05/opec-agrees-to-cut-october-crude-supply-by-100000-bpd-amid-demand-headwinds/

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