# OPEC+ aims for balance as it rolls over output curbs | Wood Mackenzie

> Wood Mackenzie says the OPEC+ rollover was a foregone conclusion after Russia's president backed continued production restraint at the G20. The analysis notes oil prices rose slightly on 1 July and dipped on the meeting day before rebounding on Iran-related speculation.

- Date: 2019-07-02 · published 2019-07-02T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/58011-opec-aims-for-balance-as-it-rolls-over-output-curbs-wood-mackenzie
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Restraint through early 2020 keeps crude supply tight, but the modest price reaction shows limited immediate effect. Geopolitical risk around Iran adds volatility to energy costs.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-06-30 | [OPEC+ set for rollover but risk clouds supply outlook   \| Wood Mackenzie](https://feedsoft.ai/events/58526-opec-set-for-rollover-but-risk-clouds-supply-outlook-wood-mackenzie.md) | -4.2% | -6.1% |
| BRENT | 2020-03-05 | [OPEC agrees 1.5m b/d output cut - but compliance will be key \| Wood Mackenzie](https://feedsoft.ai/events/54054-opec-agrees-1-5m-b-d-output-cut-but-compliance-will-be-key-wood-mackenzie.md) | -31.8% | -62.6% |
| BRENT | 2019-07-03 | [OPEC+ decides on rollover and tight H2 2019 supply demand balance Report \| Wood Mackenzie](https://feedsoft.ai/events/58007-opec-decides-on-rollover-and-tight-h2-2019-supply-demand-balance-report-wood.md) | +2.7% | +1.7% |
| BRENT | 2017-12-01 | [OPEC opts to extend production cuts \| Wood Mackenzie](https://feedsoft.ai/events/67409-opec-opts-to-extend-production-cuts-wood-mackenzie.md) | -2.0% | +4.9% |
| BRENT | 2020-11-01 | [Oil Spikes After OPEC Claims ''The Worst Is Over For The Oil Market''](https://feedsoft.ai/events/50804-oil-spikes-after-opec-claims-the-worst-is-over-for-the-oil-market.md) | +5.1% | +28.8% |

## Sources

- woodmac.com: https://www.woodmac.com/press-releases/opec_rollover/

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