# OPEC+ delegates to resume coronavirus talks on possible new oil cuts | S&P Global

> OPEC+ officials planned to reconvene in Vienna to respond to the coronavirus-driven oil price shock. An OPEC analysis estimated a 200,000-400,000 b/d demand drop for 2020, while S&P Global Platts projected a larger hit. Analysts expected OPEC+ to agree cuts of at least 500,000 b/d.

- Date: 2020-02-05 · published 2020-02-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54528-opec-delegates-to-resume-coronavirus-talks-on-possible-new-oil-cuts-s-and-p
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected output cuts offset coronavirus demand losses and provide some support for crude prices, which feeds into diesel and freight costs for feed commodities.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-06 | [Crunch time for OPEC as Russia's Novak returns to Vienna for oil cut talks \| S&P Global](https://feedsoft.ai/events/54053-crunch-time-for-opec-as-russia-s-novak-returns-to-vienna-for-oil-cut-talks-s.md) | -31.3% | -45.0% |
| WTI | 2025-03-20 | [OPEC+ issues new plan for oil cuts to compensate for overproduction \| Reuters](https://feedsoft.ai/events/25490-opec-issues-new-plan-for-oil-cuts-to-compensate-for-overproduction-reuters.md) | +3.9% | -6.8% |
| WTI | 2016-11-30 | [Oil Surges on OPEC Deal to Cut Production - WSJ](https://feedsoft.ai/events/73786-oil-surges-on-opec-deal-to-cut-production-wsj.md) | +12.5% | +19.3% |
| WTI | 2023-08-31 | [Russia promises to unveil new OPEC+ supply cut deal next week \| Reuters](https://feedsoft.ai/events/34493-russia-promises-to-unveil-new-opec-supply-cut-deal-next-week-reuters.md) | +6.4% | +12.3% |
| WTI | 2020-06-06 | [OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times](https://feedsoft.ai/events/52508-opec-and-russia-agree-to-extend-oil-production-cuts-the-new-york-times.md) | -8.3% | +2.6% |
| BRENT | 2020-03-06 | [Crunch time for OPEC as Russia's Novak returns to Vienna for oil cut talks \| S&P Global](https://feedsoft.ai/events/54053-crunch-time-for-opec-as-russia-s-novak-returns-to-vienna-for-oil-cut-talks-s.md) | -36.6% | -51.4% |
| BRENT | 2025-03-20 | [OPEC+ issues new plan for oil cuts to compensate for overproduction \| Reuters](https://feedsoft.ai/events/25490-opec-issues-new-plan-for-oil-cuts-to-compensate-for-overproduction-reuters.md) | +4.0% | -6.3% |
| BRENT | 2016-11-30 | [Oil Surges on OPEC Deal to Cut Production - WSJ](https://feedsoft.ai/events/73786-oil-surges-on-opec-deal-to-cut-production-wsj.md) | +16.7% | +22.1% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/020520-opec-delegates-to-resume-coronavirus-talks-on-possible-new-oil-cuts

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