# Will Historic OPEC+ Cuts Work? Oil Timespreads Say Maybe Not - Bloomberg

> Brent crude's six-month contango deepened on Monday after OPEC+ agreed to cut output by nearly 10%. Oil timespreads showed the market moving opposite to what the production cut was expected to achieve.

- Date: 2020-04-13 · published 2020-04-13T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53839-will-historic-opec-cuts-work-oil-timespreads-say-maybe-not-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A deepening contango signals oversupply and weak prompt demand, which keeps near-term crude prices under pressure despite the output deal. This limits the support that the cuts would otherwise give to energy-linked feed and biofuel costs.

## Read by commodity

- BRENT: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-04-13/will-historic-opec-cuts-work-oil-timespreads-say-maybe-not

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