# OPEC’s Next Meeting May Unveil New Approach: Preemption - Bloomberg

> Bloomberg reports OPEC+ may consider a preemptive supply cut at its December meeting in Vienna, as calls grow from Morgan Stanley to Commerzbank to deepen curbs. The alliance has already reduced output this year to offset a glut from weak demand and surging U.S. shale supply.

- Date: 2019-10-17 · published 2019-10-17T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56466-opec-s-next-meeting-may-unveil-new-approach-preemption-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A deeper OPEC+ cut would tighten crude supply and support oil prices, which feed into diesel and energy costs for feed producers and into biofuel-linked vegetable oil demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-06-04 | [OPEC+ Latest: Saudis Unveil Extra 1 Million Barrel Cut - Bloomberg](https://feedsoft.ai/events/35398-opec-latest-saudis-unveil-extra-1-million-barrel-cut-bloomberg.md) | -1.7% | -1.8% |
| BRENT | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -4.2% | -6.1% |
| BRENT | 2022-02-02 | [OPEC+ Agrees on Another Gradual Oil-Production Hike for March - Bloomberg](https://feedsoft.ai/events/42627-opec-agrees-on-another-gradual-oil-production-hike-for-march-bloomberg.md) | +4.1% | +20.3% |
| BRENT | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +7.4% | +1.0% |
| BRENT | 2022-09-05 | [OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg](https://feedsoft.ai/events/39514-opec-will-remain-proactive-after-agreeing-production-cut-saudi-arabia-says.md) | -0.9% | -5.0% |
| WTI | 2023-06-04 | [OPEC+ Latest: Saudis Unveil Extra 1 Million Barrel Cut - Bloomberg](https://feedsoft.ai/events/35398-opec-latest-saudis-unveil-extra-1-million-barrel-cut-bloomberg.md) | -2.2% | -2.8% |
| WTI | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -1.4% | -2.5% |
| WTI | 2022-02-02 | [OPEC+ Agrees on Another Gradual Oil-Production Hike for March - Bloomberg](https://feedsoft.ai/events/42627-opec-agrees-on-another-gradual-oil-production-hike-for-march-bloomberg.md) | +1.3% | +25.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-10-17/opec-s-next-meeting-may-unveil-new-approach-to-cuts-preemption

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