# Don’t Write Off the OPEC+ Deal Just Yet | BCG

> An analysis argues that the OPEC+ production cut deal is not yet a failure, since reductions were not scheduled until May and oil prices had nosedived after signing. It notes the deal could remove over 8 mmb/d in 2020 if fully implemented.

- Date: 2020-05-05 · published 2020-05-05T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/53031-don-t-write-off-the-opec-deal-just-yet-bcg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

If members comply, the cuts could rebalance the market and support crude prices, lifting energy-linked costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-02-02 | [OPEC Output Slides as Group Sticks With Deal to Balance Market - Bloomberg](https://feedsoft.ai/events/37217-opec-output-slides-as-group-sticks-with-deal-to-balance-market-bloomberg.md) | +2.8% | +2.3% |
| WTI | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -6.9% | +4.9% |
| WTI | 2017-09-12 | [OPEC production falls to 32.76 million b/d in August \| Oil & Gas Journal](https://feedsoft.ai/events/68867-opec-production-falls-to-32-76-million-b-d-in-august-oil-and-gas-journal.md) | +3.8% | +3.2% |
| WTI | 2017-02-13 | [OPEC Reports First Output Deal Results: 890,000 Bpd Cut \| OilPrice.com](https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com.md) | -0.8% | -10.7% |
| WTI | 2017-09-12 | [OPEC oil production falls for the first time since March](https://feedsoft.ai/events/68865-opec-oil-production-falls-for-the-first-time-since-march.md) | +3.8% | +3.2% |
| BRENT | 2023-02-02 | [OPEC Output Slides as Group Sticks With Deal to Balance Market - Bloomberg](https://feedsoft.ai/events/37217-opec-output-slides-as-group-sticks-with-deal-to-balance-market-bloomberg.md) | +2.9% | +2.2% |
| BRENT | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -8.8% | -2.2% |
| BRENT | 2017-09-12 | [OPEC production falls to 32.76 million b/d in August \| Oil & Gas Journal](https://feedsoft.ai/events/68867-opec-production-falls-to-32-76-million-b-d-in-august-oil-and-gas-journal.md) | +2.7% | +2.8% |

## Sources

- bcg.com: https://www.bcg.com/publications/2020/the-opec-deal-in-the-wake-of-covid-19

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