# OPEC+ countries to cut further oil production  ABC.AZ

> Azerbaijani outlet ABC.AZ reports OPEC+ will assess further oil production cuts at the December 5 ministerial meeting in Vienna. It notes Azerbaijan's September output of 755,000 bpd and that the 1.2 million bpd deal was extended to the end of Q1 2020.

- Date: 2019-10-23 · published 2019-10-23T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/56473-opec-countries-to-cut-further-oil-production-abc-az
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Possible further OPEC+ cuts support crude prices, a modest upward factor for diesel and energy costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-12-07 | [OPEC and allies agree to cut oil production](https://feedsoft.ai/events/10629-opec-and-allies-agree-to-cut-oil-production.md) | +2.2% | -2.9% |
| BRENT | 2023-11-30 | [OPEC+ agrees to oil production cut  \| Oil & Gas Journal](https://feedsoft.ai/events/33087-opec-agrees-to-oil-production-cut-oil-and-gas-journal.md) | -10.5% | -5.2% |
| BRENT | 2016-11-30 | [Oil Surges on OPEC Deal to Cut Production - WSJ](https://feedsoft.ai/events/73786-oil-surges-on-opec-deal-to-cut-production-wsj.md) | +16.7% | +22.1% |
| BRENT | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.3% | +4.3% |
| BRENT | 2019-08-16 | [OPEC Oil Production Continues To Slide As Saudis Cut Deeper \| OilPrice.com](https://feedsoft.ai/events/57504-opec-oil-production-continues-to-slide-as-saudis-cut-deeper-oilprice-com.md) | +3.6% | +4.8% |
| WTI | 2018-12-07 | [OPEC and allies agree to cut oil production](https://feedsoft.ai/events/10629-opec-and-allies-agree-to-cut-oil-production.md) | +2.2% | -6.2% |
| WTI | 2023-11-30 | [OPEC+ agrees to oil production cut  \| Oil & Gas Journal](https://feedsoft.ai/events/33087-opec-agrees-to-oil-production-cut-oil-and-gas-journal.md) | -11.0% | -7.4% |
| WTI | 2016-11-30 | [Oil Surges on OPEC Deal to Cut Production - WSJ](https://feedsoft.ai/events/73786-oil-surges-on-opec-deal-to-cut-production-wsj.md) | +12.5% | +19.3% |

## Sources

- erp.alba.az: https://erp.alba.az/en/news/34974

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