# OPEC recommends 1.5 million bpd additional output cut

> OPEC members recommended an additional 1.5 million bpd cut in combined OPEC and non-OPEC output through June 30, split 2-to-1 between OPEC and non-OPEC producers. The group also lowered its 2020 oil demand growth forecast to 0.48 million bpd.

- Date: 2020-05-17 · published 2020-05-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53028-opec-recommends-1-5-million-bpd-additional-output-cut
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Deeper supply cuts paired with weaker demand forecasts give mixed signals, but the extra curtailment is supportive for crude and energy-linked input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-11-12 | [OPEC analysis shows need for a production cut of 1 million bpd](https://feedsoft.ai/events/61948-opec-analysis-shows-need-for-a-production-cut-of-1-million-bpd.md) | -6.2% | -15.2% |
| WTI | 2018-11-30 | [OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg](https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg.md) | +0.1% | -12.1% |
| WTI | 2018-09-23 | [OPEC, non-OPEC panel unlikely to recommend further oil output hike:](https://feedsoft.ai/events/62933-opec-non-opec-panel-unlikely-to-recommend-further-oil-output-hike.md) | +3.4% | -2.3% |
| WTI | 2020-05-01 | [OPEC+ Moves To End Price War With 9.7 Million B/D Cut](https://feedsoft.ai/events/53032-opec-moves-to-end-price-war-with-9-7-million-b-d-cut.md) | +23.8% | +86.1% |
| WTI | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -8.3% | +2.6% |
| BRENT | 2018-11-12 | [OPEC analysis shows need for a production cut of 1 million bpd](https://feedsoft.ai/events/61948-opec-analysis-shows-need-for-a-production-cut-of-1-million-bpd.md) | -5.1% | -11.4% |
| BRENT | 2018-11-30 | [OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg](https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg.md) | +0.1% | -12.8% |
| BRENT | 2018-09-23 | [OPEC, non-OPEC panel unlikely to recommend further oil output hike:](https://feedsoft.ai/events/62933-opec-non-opec-panel-unlikely-to-recommend-further-oil-output-hike.md) | +4.9% | +1.6% |

## Sources

- aa.com.tr: https://www.aa.com.tr/en/energy/international-organization/opec-recommends-15-million-bpd-additional-output-cut/28564

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