# OPEC chief says deeper oil cut an option amid weaker 2020 outlook | OPEC | Al Jazeera

> OPEC Secretary-General Barkindo said a deeper oil supply cut is among the options for OPEC+ at its December 5-6 meeting in Vienna, with all options open. Brent traded near $58, and OPEC forecasts pointed to slower 2020 demand growth.

- Date: 2019-10-10 · published 2019-10-10T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56470-opec-chief-says-deeper-oil-cut-an-option-amid-weaker-2020-outlook-opec-al
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible deeper cut would support crude prices, which feed into diesel and energy costs for feed mills and transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-10-10 | [Arab News \| Deeper oil supply cut ‘an option,’ says OPEC chief](https://feedsoft.ai/events/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief.md) | +0.6% | +4.9% |
| BRENT | 2022-10-06 | [Why is OPEC+ cutting oil production and what’s next? \| Explainer News \| Al Jazeera](https://feedsoft.ai/events/39328-why-is-opec-cutting-oil-production-and-what-s-next-explainer-news-al-jazeera.md) | -1.0% | +2.4% |
| BRENT | 2019-09-12 | [OPEC members Iraq, Nigeria agree to cut oil output \| OPEC \| Al Jazeera](https://feedsoft.ai/events/57002-opec-members-iraq-nigeria-agree-to-cut-oil-output-opec-al-jazeera.md) | +3.3% | -4.7% |
| BRENT | 2019-12-06 | [OPEC: Saudi Arabia and Russia impose deeper oil production cuts](https://feedsoft.ai/events/55491-opec-saudi-arabia-and-russia-impose-deeper-oil-production-cuts.md) | +1.4% | +7.8% |
| BRENT | 2019-12-05 | [OPEC, allies agree to deepen oil output cuts](https://feedsoft.ai/events/55490-opec-allies-agree-to-deepen-oil-output-cuts.md) | +0.7% | +7.4% |
| WTI | 2019-10-10 | [Arab News \| Deeper oil supply cut ‘an option,’ says OPEC chief](https://feedsoft.ai/events/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief.md) | +1.5% | +6.8% |
| WTI | 2022-10-06 | [Why is OPEC+ cutting oil production and what’s next? \| Explainer News \| Al Jazeera](https://feedsoft.ai/events/39328-why-is-opec-cutting-oil-production-and-what-s-next-explainer-news-al-jazeera.md) | -0.5% | +2.2% |
| WTI | 2019-09-12 | [OPEC members Iraq, Nigeria agree to cut oil output \| OPEC \| Al Jazeera](https://feedsoft.ai/events/57002-opec-members-iraq-nigeria-agree-to-cut-oil-output-opec-al-jazeera.md) | +4.4% | -5.5% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2019/10/10/opec-chief-says-deeper-oil-cut-an-option-amid-weaker-2020-outlook

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