# OPEC+ set for rollover but risk clouds supply outlook   | Wood Mackenzie

> Wood Mackenzie expects OPEC+ to keep production restraint through the second half of 2019 by rolling over the current agreement. It said Iraq and Nigeria are the exceptions to strong compliance and that U.S.-Iran tensions add price volatility.

- Date: 2019-06-30 · published 2019-06-30T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/58526-opec-set-for-rollover-but-risk-clouds-supply-outlook-wood-mackenzie
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A forecast of tighter second-half supply supports Brent prices, which the firm sees averaging $69.50 per barrel. Trade-war downside risk to demand could offset some of that support.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-12-06 | [Deeper OPEC+  supply cuts sends supportive signal to markets \| Wood Mackenzie](https://feedsoft.ai/events/55493-deeper-opec-supply-cuts-sends-supportive-signal-to-markets-wood-mackenzie.md) | +1.3% | +7.9% |
| WTI | 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) | -29.3% | -56.6% |
| WTI | 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) | -1.5% | +5.3% |
| WTI | 2019-06-28 | [Arab News \| OPEC ‘set to roll over supply  deal, discuss deeper oil curbs’](https://feedsoft.ai/events/58527-arab-news-opec-set-to-roll-over-supply-deal-discuss-deeper-oil-curbs.md) | -3.5% | -5.3% |
| WTI | 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) | +3.7% | +26.8% |
| BRENT | 2019-07-02 | [OPEC+ aims for balance as it rolls over output curbs \| Wood Mackenzie](https://feedsoft.ai/events/58011-opec-aims-for-balance-as-it-rolls-over-output-curbs-wood-mackenzie.md) | -0.9% | -3.2% |
| 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 | 2019-12-06 | [Deeper OPEC+  supply cuts sends supportive signal to markets \| Wood Mackenzie](https://feedsoft.ai/events/55493-deeper-opec-supply-cuts-sends-supportive-signal-to-markets-wood-mackenzie.md) | +1.4% | +7.8% |

## Sources

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

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