# Oil ends lower even as OPEC+ committee reiterates output-cut pledge - MarketWatch

> Oil futures ended slightly lower on Oct 19 as the OPEC+ Joint Ministerial Monitoring Committee reiterated its output-cut commitment and encouraged overproducing members to compensate. Saudi Energy Minister Prince Abdulaziz said the group would act as necessary to rebalance the market.

- Date: 2020-10-19 · published 2020-10-19T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/50800-oil-ends-lower-even-as-opec-committee-reiterates-output-cut-pledge-marketwatch
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Continued OPEC+ output discipline supports crude prices, but worries about COVID-driven demand kept gains limited. Energy price direction feeds into diesel and fertilizer costs for feed producers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-02-01 | [OPEC+ committee recommends no change in oil output policy at virtual meeting](https://feedsoft.ai/events/37215-opec-committee-recommends-no-change-in-oil-output-policy-at-virtual-meeting.md) | -2.2% | -1.7% |
| WTI | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +3.6% |
| WTI | 2022-01-04 | [Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike \| Reuters](https://feedsoft.ai/events/43062-oil-ends-up-at-80-bbl-as-opec-sticks-with-feb-output-hike-reuters.md) | +2.8% | +16.0% |
| WTI | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +2.8% | +16.0% |
| WTI | 2021-02-03 | [Opec+ JMMC ends with no recommendation \| Latest Market News](https://feedsoft.ai/events/48550-opec-jmmc-ends-with-no-recommendation-latest-market-news.md) | +6.5% | +12.0% |
| BRENT | 2023-02-01 | [OPEC+ committee recommends no change in oil output policy at virtual meeting](https://feedsoft.ai/events/37215-opec-committee-recommends-no-change-in-oil-output-policy-at-virtual-meeting.md) | -0.8% | -0.5% |
| BRENT | 2023-07-14 | [OPEC+ monitoring committee to meet Aug 3 to review oil output cuts: delegates \| S&P Global](https://feedsoft.ai/events/34942-opec-monitoring-committee-to-meet-aug-3-to-review-oil-output-cuts-delegates-s.md) | -2.1% | +6.9% |
| BRENT | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +1.9% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-struggles-for-direction-as-coronavirus-cases-accelerate-libya-boosts-output-11603109612

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