# Saudi Arabia and Russia call for OPEC+ cohesiveness with supply cuts

> Saudi Arabia's new energy minister, Prince Abdulaziz bin Salman, stressed the need for cohesion between OPEC and non-OPEC producers at a joint monitoring committee meeting in Abu Dhabi. Producers were discussing whether to deepen the output cuts, and Russia's energy minister Alexander Novak supported maintaining the current policy.

- Date: 2019-09-11 · published 2019-09-11T12:00:00.000Z
- Category: policy · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/57006-saudi-arabia-and-russia-call-for-opec-cohesiveness-with-supply-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signals that the OPEC+ group may deepen cuts give the market some price support, but no decision had been made. Feed buyers should watch the December policy meeting for crude and diesel direction.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-04-09 | [With Russia Cold To Cuts And Libya On Fire, OPEC Supply Squeeze May End \| Investing.com](https://feedsoft.ai/events/59504-with-russia-cold-to-cuts-and-libya-on-fire-opec-supply-squeeze-may-end.md) | -1.5% | -4.6% |
| WTI | 2021-02-19 | [Saudi Arabia and Russia at odds before crucial OPEC meeting](https://feedsoft.ai/events/48552-saudi-arabia-and-russia-at-odds-before-crucial-opec-meeting.md) | +5.0% | -0.8% |
| WTI | 2017-08-02 | [OPEC, Saudi Arabia, and Sanctions Update: Connecting the Dots](https://feedsoft.ai/events/69363-opec-saudi-arabia-and-sanctions-update-connecting-the-dots.md) | -0.2% | -5.5% |
| WTI | 2022-12-04 | [OPEC keeps oil supply cuts amid uncertainty of Russian sanctions - Los Angeles Times](https://feedsoft.ai/events/38142-opec-keeps-oil-supply-cuts-amid-uncertainty-of-russian-sanctions-los-angeles.md) | -11.1% | -3.8% |
| WTI | 2019-08-22 | [OPEC's market share sinks - and no sign of wavering on supply cuts](https://feedsoft.ai/events/57501-opec-s-market-share-sinks-and-no-sign-of-wavering-on-supply-cuts.md) | +0.2% | +4.5% |
| BRENT | 2019-04-09 | [With Russia Cold To Cuts And Libya On Fire, OPEC Supply Squeeze May End \| Investing.com](https://feedsoft.ai/events/59504-with-russia-cold-to-cuts-and-libya-on-fire-opec-supply-squeeze-may-end.md) | -0.1% | -1.0% |
| BRENT | 2021-02-19 | [Saudi Arabia and Russia at odds before crucial OPEC meeting](https://feedsoft.ai/events/48552-saudi-arabia-and-russia-at-odds-before-crucial-opec-meeting.md) | +4.3% | -2.1% |
| BRENT | 2017-08-02 | [OPEC, Saudi Arabia, and Sanctions Update: Connecting the Dots](https://feedsoft.ai/events/69363-opec-saudi-arabia-and-sanctions-update-connecting-the-dots.md) | +0.9% | +0.2% |

## Sources

- english.alarabiya.net: https://english.alarabiya.net/business/energy/2019/09/12/Saudi-Arabia-and-Russia-call-for-OPEC-cohesiveness-with-supply-cuts

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