# OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR

> OPEC+ met virtually to decide whether to begin raising output in January, as pandemic demand weakness continues. Algeria's minister said vaccine-driven demand recovery would likely be significant only in the second half of 2021.

- Date: 2020-11-30 · published 2020-11-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/50061-opec-meets-to-decide-whether-cuts-in-oil-production-are-still-needed-npr
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The decision on whether to keep cuts in place determines near-term crude supply and therefore energy and input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-11-07 | [OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn - Bloomberg](https://feedsoft.ai/events/61949-opec-considers-2019-oil-production-cuts-in-yet-another-u-turn-bloomberg.md) | -8.3% | -13.6% |
| BRENT | 2018-11-07 | [Return to oil production cuts in 2019 cannot be ruled out - OPEC sources](https://feedsoft.ai/events/61945-return-to-oil-production-cuts-in-2019-cannot-be-ruled-out-opec-sources.md) | -8.3% | -13.6% |
| BRENT | 2018-10-22 | [Two 'unstable' OPEC nations may decide whether oil hits $100](https://feedsoft.ai/events/62714-two-unstable-opec-nations-may-decide-whether-oil-hits-100.md) | -3.2% | -17.6% |
| BRENT | 2020-04-12 | [Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg](https://feedsoft.ai/events/53541-oil-news-opec-deal-to-cut-production-reached-price-war-ends-bloomberg.md) | -6.7% | +8.6% |
| BRENT | 2018-11-12 | [OPEC analysis shows need for a production cut of 1 million bpd](https://feedsoft.ai/events/61948-opec-analysis-shows-need-for-a-production-cut-of-1-million-bpd.md) | -5.1% | -11.4% |
| WTI | 2018-11-07 | [OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn - Bloomberg](https://feedsoft.ai/events/61949-opec-considers-2019-oil-production-cuts-in-yet-another-u-turn-bloomberg.md) | -10.5% | -15.0% |
| WTI | 2018-11-07 | [Return to oil production cuts in 2019 cannot be ruled out - OPEC sources](https://feedsoft.ai/events/61945-return-to-oil-production-cuts-in-2019-cannot-be-ruled-out-opec-sources.md) | -10.5% | -15.0% |
| WTI | 2018-10-22 | [Two 'unstable' OPEC nations may decide whether oil hits $100](https://feedsoft.ai/events/62714-two-unstable-opec-nations-may-decide-whether-oil-hits-100.md) | -2.3% | -18.3% |

## Sources

- npr.org: https://www.npr.org/2020/11/30/940196947/opec-meets-to-decide-whether-cuts-in-oil-production-are-still-needed

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