# New Saudi energy minister urges producers to share burden | AP News

> The new Saudi energy minister urged OPEC producers to share the burden of supply cuts. The OPEC-plus group had agreed to extend production cuts of 1.2 million bpd until March 2020. Trade tensions between China and the US have kept oil prices from rising significantly.

- Date: 2019-09-09 · published 2019-09-09T12:00:00.000Z
- Category: policy · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/57007-new-saudi-energy-minister-urges-producers-to-share-burden-ap-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Calls for shared cuts point to possible further supply restraint, which could support crude prices. However, weak demand from trade tensions limits the upside for energy costs that feed into grain and feed markets.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-07 | [Saudi oil minister says no 'free rides' for non-OPEC producers](https://feedsoft.ai/events/71901-saudi-oil-minister-says-no-free-rides-for-non-opec-producers.md) | -9.6% | -5.5% |
| WTI | 2026-10-04 | [Major oil exporters agree to keep production steady \| AP News](https://feedsoft.ai/events/17057-major-oil-exporters-agree-to-keep-production-steady-ap-news.md) | +0.8% | +8.4% |
| WTI | 2018-05-30 | [Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters — Octa](https://feedsoft.ai/events/64940-saudi-arabia-opec-and-non-opec-producers-to-continue-cooperation-until-end-of.md) | -1.9% | +10.3% |
| WTI | 2019-06-01 | [Saudi energy minister recommends driving down oil inventories, says supply plentiful](https://feedsoft.ai/events/59019-saudi-energy-minister-recommends-driving-down-oil-inventories-says-supply.md) | +0.9% | +9.0% |
| WTI | 2019-05-19 | [OPEC considers two scenarios to adjust oil production - Mehr News Agency](https://feedsoft.ai/events/59020-opec-considers-two-scenarios-to-adjust-oil-production-mehr-news-agency.md) | -6.8% | -16.4% |
| BRENT | 2017-03-07 | [Saudi oil minister says no 'free rides' for non-OPEC producers](https://feedsoft.ai/events/71901-saudi-oil-minister-says-no-free-rides-for-non-opec-producers.md) | -8.4% | -5.0% |
| BRENT | 2026-10-04 | [Major oil exporters agree to keep production steady \| AP News](https://feedsoft.ai/events/17057-major-oil-exporters-agree-to-keep-production-steady-ap-news.md) | -0.9% | +2.2% |
| BRENT | 2018-05-30 | [Saudi Arabia, OPEC and non-OPEC producers to continue cooperation until end of 2018 - Reuters — Octa](https://feedsoft.ai/events/64940-saudi-arabia-opec-and-non-opec-producers-to-continue-cooperation-until-end-of.md) | -1.1% | -0.0% |

## Sources

- apnews.com: https://apnews.com/general-news-e89cbf9fc7214239bab7e58f82d78995

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