# U.S., global oil benchmarks split ways as Russia resists deeper OPEC+ output cuts - MarketWatch

> OPEC+'s Joint Technical Committee recommended a 600,000 bpd production cut starting in April and running through June. Russia's energy minister Novak signaled reluctance to go deeper, and the recommendation still requires approval by OPEC ministers. U.S. futures ended higher while global benchmarks fell.

- Date: 2020-02-06 · published 2020-02-06T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54750-u-s-global-oil-benchmarks-split-ways-as-russia-resists-deeper-opec-output-cuts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The recommended cut supports crude prices, but Russian resistance and demand worries from coronavirus leave the outcome uncertain. Crude direction feeds into biofuel and energy costs for feed and oilseed markets.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-06-02 | [OPEC+ raises output faster as Russia's war roils global energy markets](https://feedsoft.ai/events/40838-opec-raises-output-faster-as-russia-s-war-roils-global-energy-markets.md) | +6.0% | -0.6% |
| BRENT | 2022-03-02 | [Factbox: Global oil benchmarks rally above $100/b as markets shun Russian barrels](https://feedsoft.ai/events/6285-factbox-global-oil-benchmarks-rally-above-100-b-as-markets-shun-russian-barrels.md) | +21.0% | +3.3% |
| BRENT | 2016-12-02 | [Global LNG prices hit 2016 high as OPEC agrees oil output cut](https://feedsoft.ai/events/73632-global-lng-prices-hit-2016-high-as-opec-agrees-oil-output-cut.md) | +2.7% | +8.1% |
| BRENT | 2026-07-31 | [Market Talk \| Refiners Benefit As Global Diesel Shortfall Persists](https://feedsoft.ai/events/18535-market-talk-refiners-benefit-as-global-diesel-shortfall-persists.md) | -4.9% | -0.6% |
| BRENT | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.6% | -3.2% |
| WTI | 2022-12-02 | [OPEC+ decision on oil quotas muddled by Russian sanctions \| S&P Global](https://feedsoft.ai/events/38394-opec-decision-on-oil-quotas-muddled-by-russian-sanctions-s-and-p-global.md) | -12.0% | -1.1% |
| WTI | 2021-12-01 | [OPEC+ mulls oil output as Omicron uncertainty weighs on markets \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/6816-opec-mulls-oil-output-as-omicron-uncertainty-weighs-on-markets-opec-news-al.md) | +8.8% | +15.8% |
| WTI | 2025-11-20 | [Refining Margins Soar as Global Oil Product Markets Tighten \| OilPrice.com](https://feedsoft.ai/events/11480-refining-margins-soar-as-global-oil-product-markets-tighten-oilprice-com.md) | -2.1% | -6.3% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/us-oil-rises-as-opec-committee-calls-for-deeper-cuts-to-global-output-amid-coronavirus-2020-02-06

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