# Kuwait says supports any OPEC+ supply decision as 2021 curbs loom | Financial Post

> Kuwait said it will support any OPEC+ decision on future oil supply policy. Saudi Arabia and Russia favor extending about 7.7 million bpd of cuts into 2021, while some producers prefer raising output from January.

- Date: 2020-10-29 · published 2020-10-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/50547-kuwait-says-supports-any-opec-supply-decision-as-2021-curbs-loom-financial-post
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Disagreement over whether to extend cuts creates uncertainty about 2021 supply, and the outcome will set crude price direction.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.1% | +0.0% |
| BRENT | 2022-12-02 | [OPEC+ decision on oil quotas muddled by Russian sanctions \| S&P Global](https://feedsoft.ai/events/38394-opec-decision-on-oil-quotas-muddled-by-russian-sanctions-s-and-p-global.md) | -12.1% | -2.6% |
| BRENT | 2019-09-16 | [OPEC says too early for any action on oil after Saudi attacks](https://feedsoft.ai/events/57001-opec-says-too-early-for-any-action-on-oil-after-saudi-attacks.md) | +6.6% | -0.3% |
| BRENT | 2022-08-22 | [Oil pares losses after Saudi oilmin says OPEC+ has options including cuts](https://feedsoft.ai/events/40195-oil-pares-losses-after-saudi-oilmin-says-opec-has-options-including-cuts.md) | +4.6% | -6.4% |
| BRENT | 2024-08-30 | [Supply Dynamics Back In Focus  Amid Prospect Of Iraq Cuts...](https://feedsoft.ai/events/28692-supply-dynamics-back-in-focus-amid-prospect-of-iraq-cuts.md) | -8.9% | -10.4% |
| WTI | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.4% | -1.9% |
| WTI | 2022-12-02 | [OPEC+ decision on oil quotas muddled by Russian sanctions \| S&P Global](https://feedsoft.ai/events/38394-opec-decision-on-oil-quotas-muddled-by-russian-sanctions-s-and-p-global.md) | -12.0% | -1.1% |
| WTI | 2019-09-16 | [OPEC says too early for any action on oil after Saudi attacks](https://feedsoft.ai/events/57001-opec-says-too-early-for-any-action-on-oil-after-saudi-attacks.md) | +5.8% | -0.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/kuwait-says-supports-any-opec-supply-decision-as-2021-curbs-loom

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