# Opec+ to target crude inventory levels while ensuring market is well-supplied | The National

> Saudi Arabia and Russia said OPEC+ would prioritise drawing down crude inventories while keeping customers supplied. Early indications were that the group would roll over its 1.2 million bpd output curbs into the second half of the year. Saudi Energy Minister Khalid al-Falih described the market as quite foggy.

- Date: 2019-05-19 · published 2019-05-19T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59016-opec-to-target-crude-inventory-levels-while-ensuring-market-is-well-supplied
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A likely rollover of production cuts tightens crude supply and supports oil prices, raising energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-01-19 | [Opec has more 'market power' as oil supply concerns return, Goldman Sachs says \| The National](https://feedsoft.ai/events/37957-opec-has-more-market-power-as-oil-supply-concerns-return-goldman-sachs-says-the.md) | +0.5% | -1.2% |
| WTI | 2022-09-05 | [Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds \| The National](https://feedsoft.ai/events/39518-opec-agrees-to-cut-october-crude-supply-by-100-000-bpd-amid-demand-headwinds.md) | +1.0% | -3.7% |
| WTI | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -5.4% | -16.7% |
| 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% |
| WTI | 2018-03-29 | [Oil prices gain on expectation of continued Opec supply curbs in 2018 \| The National](https://feedsoft.ai/events/66167-oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-the.md) | -1.2% | +6.0% |
| BRENT | 2023-01-19 | [Opec has more 'market power' as oil supply concerns return, Goldman Sachs says \| The National](https://feedsoft.ai/events/37957-opec-has-more-market-power-as-oil-supply-concerns-return-goldman-sachs-says-the.md) | +1.4% | +0.4% |
| BRENT | 2022-09-05 | [Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds \| The National](https://feedsoft.ai/events/39518-opec-agrees-to-cut-october-crude-supply-by-100-000-bpd-amid-demand-headwinds.md) | -0.9% | -5.0% |
| BRENT | 2017-05-25 | [Opec’s meeting in Vienna: As it happened \| The National](https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national.md) | -7.0% | -16.6% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/opec-to-target-crude-inventory-levels-while-ensuring-market-is-well-supplied-1.863578

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