# Crude prices fall after Saudis say bye bye to bonus output cuts | Fossil Fuels | Al Jazeera

> Saudi Arabia, Kuwait and the UAE said they would not continue their extra voluntary oil output cuts of 1.18 million bpd beyond June, after OPEC+ agreed to extend broader curbs through July. Brent and WTI fell about 3% on the announcement.

- Date: 2020-06-08 · published 2020-06-08T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52789-crude-prices-fall-after-saudis-say-bye-bye-to-bonus-output-cuts-fossil-fuels-al
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Removing voluntary cuts raises expected Gulf crude supply, which weighs on energy prices and can reduce diesel and fertilizer costs for feed producers, though the broader OPEC+ curbs limit the downside.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-08 | [Saudi Arabia slashes April oil selling prices as OPEC+ fails to extend output curbs](https://feedsoft.ai/events/4424-saudi-arabia-slashes-april-oil-selling-prices-as-opec-fails-to-extend-output.md) | -23.0% | -31.2% |
| WTI | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.5% | -4.3% |
| WTI | 2026-05-20 | [Oil prices fall 5% after Trump comments while analysts point to supply crunch](https://feedsoft.ai/events/12491-oil-prices-fall-5-after-trump-comments-while-analysts-point-to-supply-crunch.md) | -17.6% | -28.3% |
| WTI | 2024-09-03 | [Crude oil prices today: WTI erases all 2024 gains](https://feedsoft.ai/events/12385-crude-oil-prices-today-wti-erases-all-2024-gains.md) | -6.6% | -7.6% |
| WTI | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | -1.3% | +20.4% |
| BRENT | 2020-03-08 | [Saudi Arabia slashes April oil selling prices as OPEC+ fails to extend output curbs](https://feedsoft.ai/events/4424-saudi-arabia-slashes-april-oil-selling-prices-as-opec-fails-to-extend-output.md) | -27.3% | -36.6% |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| BRENT | 2026-05-20 | [Oil prices fall 5% after Trump comments while analysts point to supply crunch](https://feedsoft.ai/events/12491-oil-prices-fall-5-after-trump-comments-while-analysts-point-to-supply-crunch.md) | -15.3% | -29.2% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2020/6/8/crude-prices-fall-after-saudis-say-bye-bye-to-bonus-output-cuts

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