# Arab News | OPEC ‘set to roll over supply  deal, discuss deeper oil curbs’

> OPEC is expected to roll over its supply-cut deal at the Vienna meeting on July 1-2 and discuss deeper curbs. Iraq's oil minister said the rollover would at least keep current levels, and Algeria had floated a cut of about 600,000 bpd. Exxon has also evacuated staff from an Iraqi oilfield for security reasons.

- Date: 2019-06-28 · published 2019-06-28T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/58527-arab-news-opec-set-to-roll-over-supply-deal-discuss-deeper-oil-curbs
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of a rollover with possible deeper cuts support crude prices. Energy costs feed into the diesel and fertilizer costs of feed production.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-10-10 | [Arab News \| Deeper oil supply cut ‘an option,’ says OPEC chief](https://feedsoft.ai/events/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief.md) | +1.5% | +6.8% |
| WTI | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -8.8% | -5.2% |
| WTI | 2023-08-31 | [Russia promises to unveil new OPEC+ supply cut deal next week \| Reuters](https://feedsoft.ai/events/34493-russia-promises-to-unveil-new-opec-supply-cut-deal-next-week-reuters.md) | +6.4% | +12.3% |
| 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 | 2022-09-05 | [OPEC+ agrees to make token supply cut to steady oil market](https://feedsoft.ai/events/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market.md) | +1.0% | -3.7% |
| BRENT | 2019-10-10 | [Arab News \| Deeper oil supply cut ‘an option,’ says OPEC chief](https://feedsoft.ai/events/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief.md) | +0.6% | +4.9% |
| BRENT | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -9.9% | -6.0% |
| BRENT | 2023-08-31 | [Russia promises to unveil new OPEC+ supply cut deal next week \| Reuters](https://feedsoft.ai/events/34493-russia-promises-to-unveil-new-opec-supply-cut-deal-next-week-reuters.md) | +5.7% | +12.3% |

## Sources

- arabnews.com: https://www.arabnews.com/business/opec-set-to-roll-over-supply-deal-discuss-deeper-oil-curbs-1517286

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