# Opec-Plus Laggards Agree to Extra Cuts | Energy Intelligence

> Delegates told Energy Intelligence that OPEC+ laggards will make extra cuts of 1.15 million b/d in August and September to compensate for overproduction. Quota breaches totalled about 70 million barrels over May to July.

- Date: 2020-08-21 · published 2020-08-21T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/51539-opec-plus-laggards-agree-to-extra-cuts-energy-intelligence
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Compensation cuts of this scale tighten near-term crude supply and support prices, though enforcement by the largest overproducers remains uncertain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-04-28 | [Opec-Plus Not Seen Veering Off Course \| Energy Intelligence](https://feedsoft.ai/events/41755-opec-plus-not-seen-veering-off-course-energy-intelligence.md) | +5.8% | +10.5% |
| BRENT | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -8.9% | +7.8% |
| BRENT | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -0.9% | -3.2% |
| BRENT | 2024-02-28 | [OPEC+ Extends Oil Cuts Amid Global Supply Crunch - Energy News Africa Plus](https://feedsoft.ai/events/31861-opec-extends-oil-cuts-amid-global-supply-crunch-energy-news-africa-plus.md) | +0.2% | +2.8% |
| BRENT | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.7% | +7.4% |
| WTI | 2022-04-28 | [Opec-Plus Not Seen Veering Off Course \| Energy Intelligence](https://feedsoft.ai/events/41755-opec-plus-not-seen-veering-off-course-energy-intelligence.md) | +5.7% | +9.8% |
| WTI | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -9.5% | +9.1% |
| WTI | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -2.2% | -1.6% |

## Sources

- energyintel.com: https://www.energyintel.com/0000017b-a7db-de4c-a17b-e7db60630000

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