# ANALYSIS: Saudi Arabia comes to the aid of OPEC+ but seeks goodwill in return

> S&P Global analysis says Saudi Arabia, under energy minister Prince Abdulaziz bin Salman, has shifted from enforcing OPEC+ quotas to acting as a benefactor. It notes an increasing split between Russian and Saudi oil policy and wobbly demand plus budget pressures in the kingdom. The Saudi output cut was made in return for goodwill from partners.

- Date: 2021-01-06 · published 2021-01-06T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/49057-analysis-saudi-arabia-comes-to-the-aid-of-opec-but-seeks-goodwill-in-return
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The Saudi cut supports crude prices, but a widening split between Russia and Saudi Arabia could weaken future cohesion and raise volatility. Feed-linked energy and freight costs remain sensitive to these shifts.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2023-08-01 | [Saudi Arabia expected to extend voluntary oil cut for September, analysts say](https://feedsoft.ai/events/34943-saudi-arabia-expected-to-extend-voluntary-oil-cut-for-september-analysts-say.md) | +0.6% | -0.6% |
| BRENT | 2019-06-29 | [Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters](https://feedsoft.ai/events/58525-russia-agrees-with-saudi-arabia-to-extend-opec-oil-output-deal-reuters.md) | -4.2% | -6.1% |
| BRENT | 2022-09-05 | [OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg](https://feedsoft.ai/events/39514-opec-will-remain-proactive-after-agreeing-production-cut-saudi-arabia-says.md) | -0.9% | -5.0% |
| BRENT | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -1.2% | +3.1% |
| WTI | 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) | +9.8% | +15.2% |
| WTI | 2023-08-01 | [Saudi Arabia expected to extend voluntary oil cut for September, analysts say](https://feedsoft.ai/events/34943-saudi-arabia-expected-to-extend-voluntary-oil-cut-for-september-analysts-say.md) | +0.2% | -1.6% |
| WTI | 2019-06-29 | [Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters](https://feedsoft.ai/events/58525-russia-agrees-with-saudi-arabia-to-extend-opec-oil-output-deal-reuters.md) | -1.4% | -2.5% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/010621-saudi-arabia-comes-to-the-aid-of-opec-but-seeks-goodwill-in-return

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