# Russia ‘playing with fire’ as OPEC+ talks collapse | OPEC | Al Jazeera

> OPEC+ talks in Vienna collapsed after Russia refused to back deeper output cuts. OPEC responded by removing all limits on its own production, and Brent fell more than 10% to below $46 a barrel.

- Date: 2020-03-06 · published 2020-03-06T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/54051-russia-playing-with-fire-as-opec-talks-collapse-opec-al-jazeera
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Removing output limits threatens to flood an already oversupplied market while demand is falling, pushing crude and energy-linked prices lower. The rift also raises the risk of a prolonged price war.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-03-09 | 5 | -30.3% | -10.0 | OPEC+ talks collapsed on March 6 after Russia refused deeper cuts and OPEC removed output limits, a supply shock that sent Brent down over 10% and started the 5-day slide. |
| WTI | 2020-03-06 | 1 | -10.3% | -5.8 | OPEC+ talks collapsed in Vienna and OPEC dropped its production limits, sending Brent down more than 10% and dragging WTI lower. |
| BRENT | 2020-03-08 | 1 | -12.9% | -5.7 | OPEC+ talks collapsed after Russia refused deeper cuts and OPEC dropped its production limits, which removed supply discipline and drove Brent down more than 10%. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +21.9% | -26.3% |
| BRENT | 2022-03-31 | [OPEC+ refuses to heed consumers’ call for more oil \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42175-opec-refuses-to-heed-consumers-call-for-more-oil-opec-news-al-jazeera.md) | -11.9% | -6.8% |
| BRENT | 2020-07-15 | [OPEC+ to boost oil production next month \| OPEC \| Al Jazeera](https://feedsoft.ai/events/52003-opec-to-boost-oil-production-next-month-opec-al-jazeera.md) | +3.2% | +2.7% |
| BRENT | 2025-05-27 | [Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns](https://feedsoft.ai/events/24853-oil-prices-ease-as-us-iran-talks-opec-plans-spur-supply-concerns.md) | +0.8% | +12.0% |
| BRENT | 2022-03-30 | [Asia Session: 'Reduced' Russia Operations Sparks Relief Rally; Dollar Falls \| Investing.com](https://feedsoft.ai/events/42514-asia-session-reduced-russia-operations-sparks-relief-rally-dollar-falls.md) | -4.4% | -6.5% |
| WTI | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +64.1% | -28.3% |
| WTI | 2022-03-31 | [OPEC+ refuses to heed consumers’ call for more oil \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42175-opec-refuses-to-heed-consumers-call-for-more-oil-opec-news-al-jazeera.md) | -10.6% | -2.2% |
| WTI | 2020-07-15 | [OPEC+ to boost oil production next month \| OPEC \| Al Jazeera](https://feedsoft.ai/events/52003-opec-to-boost-oil-production-next-month-opec-al-jazeera.md) | +3.8% | +3.1% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2020/3/6/russia-playing-with-fire-as-opec-talks-collapse

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