# Saudi Arabia plans to keep Aug-Sept oil exports below 7 mln bpd – official - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Saudi Arabia plans to keep crude exports below 7 million bpd in August and September despite strong customer nominations. Its production will stay below 10 million bpd, and the kingdom says OPEC+ will keep the balance next year. OPEC+ extended output cuts to March 2020 in July.

- Date: 2019-08-08 · published 2019-08-08T12:00:00.000Z
- Category: policy · region Saudi Arabia · magnitude medium
- Page: https://feedsoft.ai/events/57506-saudi-arabia-plans-to-keep-aug-sept-oil-exports-below-7-mln-bpd-official-energy
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Capping Saudi exports below strong demand tightens crude supply and supports prices, which keeps diesel and energy costs firmer for feed and freight. The commitment to restrain supply through 2020 limits downside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +6.0% | +8.3% |
| WTI | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -3.0% | -6.5% |
| WTI | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +11.9% | +7.2% |
| WTI | 2023-09-30 | [OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/34013-opec-panel-unlikely-to-tweak-oil-policy-at-wednesday-meeting-energy-news-top.md) | -8.8% | -5.4% |
| WTI | 2018-04-12 | [OPEC Switches Operational Target from Inventories to Investment: Kemp - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65430-opec-switches-operational-target-from-inventories-to-investment-kemp-energy.md) | +2.4% | +6.5% |
| BRENT | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -1.1% | -4.3% |
| BRENT | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +8.0% | +7.2% |
| BRENT | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +5.6% | -1.0% |

## Sources

- energynow.com: https://energynow.com/2019/08/saudi-arabia-plans-to-keep-aug-sept-oil-exports-below-7-mln-bpd-official/

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