# Arab News | Deeper oil supply cut ‘an option,’ says OPEC chief

> Arab News, citing Reuters, reports OPEC's secretary-general said a deeper oil supply cut is an option for the December 5-6 Vienna meeting. Brent was near $58 a barrel, and the group's 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/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief
- 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 OPEC+ cut would support crude prices, which raise diesel and energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-10-10 | [OPEC chief says deeper oil cut an option amid weaker 2020 outlook \| OPEC \| Al Jazeera](https://feedsoft.ai/events/56470-opec-chief-says-deeper-oil-cut-an-option-amid-weaker-2020-outlook-opec-al.md) | +0.6% | +4.9% |
| BRENT | 2019-06-28 | [Arab News \| OPEC ‘set to roll over supply  deal, discuss deeper oil curbs’](https://feedsoft.ai/events/58527-arab-news-opec-set-to-roll-over-supply-deal-discuss-deeper-oil-curbs.md) | -4.4% | -4.9% |
| BRENT | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -9.9% | -6.0% |
| 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 | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | +1.5% | -6.3% |
| WTI | 2019-10-10 | [OPEC chief says deeper oil cut an option amid weaker 2020 outlook \| OPEC \| Al Jazeera](https://feedsoft.ai/events/56470-opec-chief-says-deeper-oil-cut-an-option-amid-weaker-2020-outlook-opec-al.md) | +1.5% | +6.8% |
| WTI | 2019-06-28 | [Arab News \| OPEC ‘set to roll over supply  deal, discuss deeper oil curbs’](https://feedsoft.ai/events/58527-arab-news-opec-set-to-roll-over-supply-deal-discuss-deeper-oil-curbs.md) | -3.5% | -5.3% |
| WTI | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -8.8% | -5.2% |

## Sources

- arabnews.com: https://www.arabnews.com/business/deeper-oil-supply-cut-an-option-says-opec-chief-1567081

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