# Oil Retreats on Signs of OPEC+ Discord Ahead of Key Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Oil fell below $45 a barrel as OPEC+ members failed to agree on postponing a planned January output increase before a ministerial meeting. Most participants in an informal gathering backed keeping production curbs into the first quarter, but the UAE and Kazakhstan opposed. Failure to extend the curbs could restore about 1.9 million barrels a day of supply.

- Date: 2020-11-30 · published 2020-11-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/50337-oil-retreats-on-signs-of-opec-discord-ahead-of-key-meeting-energy-news-top
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible return of roughly 1.9 million barrels a day would push the market toward surplus and pressure crude, with knock-on effects for energy and fertilizer costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-05-30 | [Oil Bulls Scurry for Protection Against a Wave of OPEC Supply - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65174-oil-bulls-scurry-for-protection-against-a-wave-of-opec-supply-energy-news-top.md) | -1.1% | -0.0% |
| BRENT | 2018-08-31 | [Iraq willing to boost production after OPEC agreement - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/63442-iraq-willing-to-boost-production-after-opec-agreement-energy-news-top-headlines.md) | -1.7% | +5.5% |
| BRENT | 2020-07-31 | [OPEC and Allies Prepare to Pump More Oil Just as Market Recovery Teeters - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/52287-opec-and-allies-prepare-to-pump-more-oil-just-as-market-recovery-teeters.md) | +4.9% | +4.7% |
| BRENT | 2019-04-26 | [US crude plunges 2.9%, settling at $63.30, after Trump says he told OPEC to tame fuel costs - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/8099-us-crude-plunges-2-9-settling-at-63-30-after-trump-says-he-told-opec-to-tame.md) | -5.3% | -8.8% |
| BRENT | 2021-07-18 | [OPEC, allies raise limits for 5 countries to end oil dispute \| AP News](https://feedsoft.ai/events/45986-opec-allies-raise-limits-for-5-countries-to-end-oil-dispute-ap-news.md) | +0.6% | -4.4% |
| WTI | 2018-05-30 | [Oil Bulls Scurry for Protection Against a Wave of OPEC Supply - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65174-oil-bulls-scurry-for-protection-against-a-wave-of-opec-supply-energy-news-top.md) | -1.9% | +10.3% |
| WTI | 2018-08-31 | [Iraq willing to boost production after OPEC agreement - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/63442-iraq-willing-to-boost-production-after-opec-agreement-energy-news-top-headlines.md) | -3.6% | +4.2% |
| WTI | 2020-07-31 | [OPEC and Allies Prepare to Pump More Oil Just as Market Recovery Teeters - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/52287-opec-and-allies-prepare-to-pump-more-oil-just-as-market-recovery-teeters.md) | +5.2% | +7.7% |

## Sources

- energynow.com: https://energynow.com/2020/11/oil-retreats-on-signs-of-opec-discord-ahead-of-key-meeting/

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