# Oil Jumps Near $90 After OPEC+ Surprises With Token Supply Cut - Bloomberg

> Oil jumped as much as 4.1% above $90 a barrel on WTI before paring gains, after OPEC+ surprised markets with a token supply cut. The move followed lobbying from the U.S. for a hike of the same volume in September.

- Date: 2022-09-04 · published 2022-09-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39754-oil-jumps-near-90-after-opec-surprises-with-token-supply-cut-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A surprise OPEC+ cut tightens crude supply and lifts energy costs for feed producers. The effect on feed ingredient prices is indirect.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-03 | [OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg](https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg.md) | +0.1% | -3.2% |
| WTI | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.1% | -5.8% |
| WTI | 2023-04-03 | [Oil Prices Jump After Surprise OPEC Production Cut - The New York Times](https://feedsoft.ai/events/7948-oil-prices-jump-after-surprise-opec-production-cut-the-new-york-times.md) | +5.4% | -0.0% |
| WTI | 2016-11-30 | [Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg](https://feedsoft.ai/events/9704-brent-oil-jumps-to-highest-in-more-than-a-year-after-opec-accord-bloomberg.md) | +12.5% | +19.3% |
| WTI | 2023-10-04 | [Oil Supply: Saudis to Stick With 1 Million-Barrel A Day Cut - Bloomberg](https://feedsoft.ai/events/33521-oil-supply-saudis-to-stick-with-1-million-barrel-a-day-cut-bloomberg.md) | -3.7% | -8.8% |
| BRENT | 2024-04-03 | [OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg](https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg.md) | +2.8% | -0.3% |
| BRENT | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.9% | -3.9% |
| BRENT | 2023-04-03 | [Oil Prices Jump After Surprise OPEC Production Cut - The New York Times](https://feedsoft.ai/events/7948-oil-prices-jump-after-surprise-opec-production-cut-the-new-york-times.md) | +7.4% | +1.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-09-04/oil-advances-at-week-s-open-as-all-eyes-to-turn-opec-meeting

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