# OPEC Production Falls in June as Cartel Moves to Prolong Cuts - Bloomberg

> OPEC's crude output fell for a seventh straight month in June, to about 30 million barrels a day. U.S. sanctions further curtailed Iranian shipments, and Saudi Arabia pared back its own output. The group signaled it would keep supplies restrained at least through the end of the year.

- Date: 2019-06-30 · published 2019-06-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/58524-opec-production-falls-in-june-as-cartel-moves-to-prolong-cuts-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tighter OPEC supply supports crude prices, which feed into diesel, fertilizer and freight costs for feed production and transport. Continued restraint keeps the energy-cost backdrop firm for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-05-03 | [OPEC+ likely to extend production cuts in June](https://feedsoft.ai/events/30161-opec-likely-to-extend-production-cuts-in-june.md) | +0.4% | -3.0% |
| WTI | 2018-10-25 | [OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg](https://feedsoft.ai/events/62452-opec-lurches-from-pump-all-you-can-to-mulling-cuts-in-just-days-bloomberg.md) | -2.0% | -18.3% |
| WTI | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +5.4% | -0.0% |
| WTI | 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) | +4.2% | +4.9% |
| WTI | 2018-12-06 | [Crude Climbs as OPEC and Allies Finalize Production Limitations - Bloomberg](https://feedsoft.ai/events/10631-crude-climbs-as-opec-and-allies-finalize-production-limitations-bloomberg.md) | -3.3% | -9.5% |
| BRENT | 2024-05-03 | [OPEC+ likely to extend production cuts in June](https://feedsoft.ai/events/30161-opec-likely-to-extend-production-cuts-in-june.md) | -0.8% | -4.4% |
| BRENT | 2018-10-25 | [OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg](https://feedsoft.ai/events/62452-opec-lurches-from-pump-all-you-can-to-mulling-cuts-in-just-days-bloomberg.md) | -2.1% | -18.5% |
| BRENT | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +7.4% | +1.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-06-30/opec-production-falls-in-june-as-cartel-moves-to-prolong-cuts

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