# Oil rises as UAE’s ADNOC cuts October supplies by 30%

> Oil prices edged up after ADNOC announced a 30% cut to October supplies, up from 5% in September. Prices were also supported by a weak US dollar, and Brent was trading near $46.38 while WTI was near $43.25.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/51784-oil-rises-as-uae-s-adnoc-cuts-october-supplies-by-30
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The larger Abu Dhabi cut removes barrels from a market with an inventory glut and supports energy prices. Higher crude costs can raise diesel and fertilizer input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-16 | [UAE's ADNOC to cut Nov crude oil term supplies by 25 per cent for all grades, ETEnergyworld](https://feedsoft.ai/events/51060-uae-s-adnoc-to-cut-nov-crude-oil-term-supplies-by-25-per-cent-for-all-grades.md) | +3.3% | +4.7% |
| WTI | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -2.1% | +6.3% |
| WTI | 2019-01-03 | [Oil rises in choppy trade as OPEC supply cuts vie with demand worry](https://feedsoft.ai/events/10830-oil-rises-in-choppy-trade-as-opec-supply-cuts-vie-with-demand-worry.md) | +12.6% | +16.8% |
| WTI | 2019-06-30 | [Oil prices edge up on hopes of supply cuts extension by OPEC](https://feedsoft.ai/events/58762-oil-prices-edge-up-on-hopes-of-supply-cuts-extension-by-opec.md) | -1.4% | -2.5% |
| WTI | 2022-10-05 | [Oil rises to 3-week highs as OPEC+ agrees to deep cuts, U.S. stockpiles fall \| Reuters](https://feedsoft.ai/events/39283-oil-rises-to-3-week-highs-as-opec-agrees-to-deep-cuts-u-s-stockpiles-fall.md) | +3.3% | +1.9% |
| BRENT | 2020-09-16 | [UAE's ADNOC to cut Nov crude oil term supplies by 25 per cent for all grades, ETEnergyworld](https://feedsoft.ai/events/51060-uae-s-adnoc-to-cut-nov-crude-oil-term-supplies-by-25-per-cent-for-all-grades.md) | +3.1% | +4.6% |
| BRENT | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -1.4% | +5.4% |
| BRENT | 2019-01-03 | [Oil rises in choppy trade as OPEC supply cuts vie with demand worry](https://feedsoft.ai/events/10830-oil-rises-in-choppy-trade-as-opec-supply-cuts-vie-with-demand-worry.md) | +10.9% | +13.4% |

## Sources

- offshore-technology.com: https://www.offshore-technology.com/news/oil-rises-adnoc-cuts-october-supplies/

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