# Crude Rallies on Reports Russia Will Push for OPEC+ to Cut Output

> WTI crude closed up 2.33% on Tuesday after a Reuters report said Russia would push OPEC+ to cut output by 1 million bpd. U.S. Gulf producers idled about 190,000 bpd of crude output ahead of Hurricane Ian.

- Date: 2022-09-27 · published 2022-09-27T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39752-crude-rallies-on-reports-russia-will-push-for-opec-to-cut-output
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A proposed OPEC+ cut and Gulf shut-ins point to tighter crude supply, supporting energy and diesel costs for feed operations. Stronger U.S. consumer data also supports demand.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-09-24 | [OPEC, Russia rebuff Trump's call for immediate boost to oil output](https://feedsoft.ai/events/62928-opec-russia-rebuff-trump-s-call-for-immediate-boost-to-oil-output.md) | +3.4% | -2.3% |
| WTI | 2022-12-04 | [Opec+ sticks to current output targets ahead of Russia crude sanctions \| The National](https://feedsoft.ai/events/38143-opec-sticks-to-current-output-targets-ahead-of-russia-crude-sanctions-the.md) | -11.1% | -3.8% |
| WTI | 2018-06-26 | [Oil surges as U.S. pushes allies to halt imports of Iranian crude \| Reuters](https://feedsoft.ai/events/8778-oil-surges-as-u-s-pushes-allies-to-halt-imports-of-iranian-crude-reuters.md) | +6.7% | +1.0% |
| WTI | 2020-01-28 | [Arab News \| China virus forces OPEC to weigh up extension to oil output cuts](https://feedsoft.ai/events/54971-arab-news-china-virus-forces-opec-to-weigh-up-extension-to-oil-output-cuts.md) | -5.7% | -6.2% |
| WTI | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.5% | -1.9% |
| DIESEL | 2018-09-24 | [OPEC, Russia rebuff Trump's call for immediate boost to oil output](https://feedsoft.ai/events/62928-opec-russia-rebuff-trump-s-call-for-immediate-boost-to-oil-output.md) | +5.8% | +3.7% |
| DIESEL | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | -0.8% | -1.1% |
| DIESEL | 2023-02-10 | [OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg](https://feedsoft.ai/events/37221-opec-won-t-increase-oil-production-despite-russia-output-cut-delegates-say.md) | -0.8% | -1.1% |

## Sources

- barchart.com: https://www.barchart.com/story/news/10430880/crude-rallies-on-reports-russia-will-push-for-opec-to-cut-output

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