# Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar | Reuters

> Oil prices fell after Saudi Arabia and Russia delayed a meeting, while Cushing stockpiles surged. The same report notes Qatar plans a $10 billion investment in the Al Udeid Air Base, which is unrelated to crude supply.

- Date: 2020-04-06 · published 2020-04-06T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53814-oil-falls-after-saudi-arabia-russia-delay-meeting-cushing-stockpiles-soar
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A stalled producer agreement removes hopes of supply restraint, while rising storage at Cushing points to a glut that keeps crude prices under pressure.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |
| WTI | 2020-03-08 | [Oil price war between Saudi, Russia after failed OPEC deal](https://feedsoft.ai/events/54278-oil-price-war-between-saudi-russia-after-failed-opec-deal.md) | -23.0% | -31.2% |
| WTI | 2023-11-23 | [Oil slips 1% on concerns over delayed OPEC+ meeting By Reuters](https://feedsoft.ai/events/33339-oil-slips-1-on-concerns-over-delayed-opec-meeting-by-reuters.md) | -1.5% | -4.2% |
| WTI | 2018-11-26 | [Saudi Arabia pumps record amount of oil as Trump piles on pressure \| Reuters](https://feedsoft.ai/events/61947-saudi-arabia-pumps-record-amount-of-oil-as-trump-piles-on-pressure-reuters.md) | -4.2% | -14.3% |
| WTI | 2022-03-14 | [Oil falls over 5% on Russia-Ukraine talk hopes, China lockdowns \| Reuters](https://feedsoft.ai/events/5997-oil-falls-over-5-on-russia-ukraine-talk-hopes-china-lockdowns-reuters.md) | -4.2% | -10.1% |
| BRENT | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +21.9% | -26.3% |
| BRENT | 2020-03-08 | [Oil price war between Saudi, Russia after failed OPEC deal](https://feedsoft.ai/events/54278-oil-price-war-between-saudi-russia-after-failed-opec-deal.md) | -27.3% | -36.6% |
| BRENT | 2023-11-23 | [Oil slips 1% on concerns over delayed OPEC+ meeting By Reuters](https://feedsoft.ai/events/33339-oil-slips-1-on-concerns-over-delayed-opec-meeting-by-reuters.md) | +1.4% | -1.8% |

## Sources

- reuters.com: https://www.reuters.com/article/business/oil-falls-after-saudi-arabia-russia-delay-meeting-cushing-stockpiles-soar-idUSKBN21O05R/

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