# Gulf OPEC, Iraq question whether to keep deep oil cuts into 2021: sources | The Mighty 790 KFGO | KFGO

> The UAE, Kuwait and Iraq are debating whether to roll over oil supply cuts into 2021 because they struggle to meet their agreed reductions. Saudi Arabia and Russia favor keeping cuts of about 7.7 million bpd.

- Date: 2020-10-29 · published 2020-10-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/50548-gulf-opec-iraq-question-whether-to-keep-deep-oil-cuts-into-2021-sources-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Possible friction within OPEC+ and a review of output targets could lift supply in 2021, a bearish factor for crude against weak demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-07-16 | [OPEC+ to ease production cuts in August \| Oil & Gas Journal](https://feedsoft.ai/events/52005-opec-to-ease-production-cuts-in-august-oil-and-gas-journal.md) | +0.6% | +3.2% |
| BRENT | 2020-07-15 | [OPEC and allies to ease cuts, allow more oil production \| AP News](https://feedsoft.ai/events/52002-opec-and-allies-to-ease-cuts-allow-more-oil-production-ap-news.md) | +3.2% | +2.7% |
| BRENT | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.2% | +2.7% |
| BRENT | 2021-05-30 | [Iran's possible return to oil markets likely to dominate Opec+ talks \| The National](https://feedsoft.ai/events/47012-iran-s-possible-return-to-oil-markets-likely-to-dominate-opec-talks-the-national.md) | +2.4% | +7.5% |
| BRENT | 2026-09-30 | [More oil out of the Gulf translating to lower prices - FreightWaves](https://feedsoft.ai/events/17654-more-oil-out-of-the-gulf-translating-to-lower-prices-freightwaves.md) | +3.9% | +9.5% |
| WTI | 2020-07-16 | [OPEC+ to ease production cuts in August \| Oil & Gas Journal](https://feedsoft.ai/events/52005-opec-to-ease-production-cuts-in-august-oil-and-gas-journal.md) | +1.7% | +3.5% |
| WTI | 2020-07-15 | [OPEC and allies to ease cuts, allow more oil production \| AP News](https://feedsoft.ai/events/52002-opec-and-allies-to-ease-cuts-allow-more-oil-production-ap-news.md) | +3.8% | +3.1% |
| WTI | 2020-07-15 | [OPEC agrees to ease oil output cut to 7.7 mbpd in Aug.](https://feedsoft.ai/events/52009-opec-agrees-to-ease-oil-output-cut-to-7-7-mbpd-in-aug.md) | +3.8% | +3.1% |

## Sources

- kfgo.com: https://kfgo.com/2020/10/29/gulf-opec-iraq-question-whether-to-keep-deep-oil-cuts-into-2021-sources/

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