# OPEC+ Sends More Signals It’ll Stick With Current Oil Cuts - Bloomberg

> OPEC and its allies signaled they will keep existing output cuts at their meeting next week. An OPEC advisory committee in Vienna heard the market would balance in 2020 if current production levels are maintained, and did not discuss deeper cuts. Industry executives meeting Russia's energy minister in Moscow also showed no interest in changing the supply deal.

- Date: 2019-11-28 · published 2019-11-28T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/55951-opec-sends-more-signals-it-ll-stick-with-current-oil-cuts-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Holding current cuts keeps supply restrained into 2020, which supports crude prices; the absence of talk of deeper cuts limits upside. Crude price moves feed into vegetable oil and biofuel economics and energy-linked feed costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-04-03 | [OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg](https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg.md) | +2.8% | -0.3% |
| BRENT | 2017-11-03 | [Oil Extends Surge as OPEC Signals Deal, Supply Threats Mount - Bloomberg](https://feedsoft.ai/events/68165-oil-extends-surge-as-opec-signals-deal-supply-threats-mount-bloomberg.md) | +5.8% | +4.7% |
| BRENT | 2017-09-19 | [Oil Producers Weigh More Cuts, Iraq Says - Bloomberg](https://feedsoft.ai/events/68864-oil-producers-weigh-more-cuts-iraq-says-bloomberg.md) | +6.7% | +3.9% |
| BRENT | 2023-10-04 | [Oil Supply: Saudis to Stick With 1 Million-Barrel A Day Cut - Bloomberg](https://feedsoft.ai/events/33521-oil-supply-saudis-to-stick-with-1-million-barrel-a-day-cut-bloomberg.md) | -3.8% | -6.0% |
| BRENT | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.9% | -3.9% |
| WTI | 2024-04-03 | [OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel - Bloomberg](https://feedsoft.ai/events/30642-opec-sticks-with-supply-cuts-while-oil-nears-90-a-barrel-bloomberg.md) | +0.1% | -3.2% |
| WTI | 2017-11-03 | [Oil Extends Surge as OPEC Signals Deal, Supply Threats Mount - Bloomberg](https://feedsoft.ai/events/68165-oil-extends-surge-as-opec-signals-deal-supply-threats-mount-bloomberg.md) | +4.8% | +7.0% |
| WTI | 2017-09-19 | [Oil Producers Weigh More Cuts, Iraq Says - Bloomberg](https://feedsoft.ai/events/68864-oil-producers-weigh-more-cuts-iraq-says-bloomberg.md) | +4.2% | +4.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-11-28/opec-sees-balanced-oil-market-in-2020-with-current-output-cuts

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