# OPEC and Russia likely to ease output cuts in August – Reuters — Octa

> OPEC and Russia are not yet discussing extending record oil output cuts into August, according to four OPEC sources cited by Reuters. The sources said the group was likely to ease output reductions. WTI was down about 1% near $39.20.

- Date: 2020-06-30 · published 2020-06-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52792-opec-and-russia-likely-to-ease-output-cuts-in-august-reuters-octa
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signals of easing cuts from August point to more crude supply, which pressures energy prices and related input costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| 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+ to ease historic output curbs from August \| The National](https://feedsoft.ai/events/52004-opec-to-ease-historic-output-curbs-from-august-the-national.md) | +3.8% | +3.1% |
| WTI | 2025-08-05 | [Oil prices fall as OPEC+ output hikes counter Russia disruption concerns \| Reuters](https://feedsoft.ai/events/23233-oil-prices-fall-as-opec-output-hikes-counter-russia-disruption-concerns-reuters.md) | -3.4% | -1.7% |
| WTI | 2024-03-25 | [Opec+ 7 agree another output target hike in August \| Latest Market News](https://feedsoft.ai/events/31111-opec-7-agree-another-output-target-hike-in-august-latest-market-news.md) | +4.1% | +3.2% |
| 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 | 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+ to ease historic output curbs from August \| The National](https://feedsoft.ai/events/52004-opec-to-ease-historic-output-curbs-from-august-the-national.md) | +3.2% | +2.7% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/832471/

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