# Saudi, UAE see sufficient oil supplies despite Iran tensions | Fossil Fuels | Al Jazeera

> Saudi and UAE officials said oil supplies were sufficient and inventories were still rising despite expected losses of Iranian and Venezuelan output. Saudi Energy Minister Khalid al-Falih said OPEC+ favoured gently driving stocks down and would not make hasty output decisions before a June meeting.

- Date: 2019-05-19 · published 2019-05-19T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/59018-saudi-uae-see-sufficient-oil-supplies-despite-iran-tensions-fossil-fuels-al
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Assurances of ample supply cap the crude price premium from Iran sanctions, limiting upward pressure on fuel costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-05 | [US refiners accelerate transition to renewable fuels production \| Oil & Gas Journal](https://feedsoft.ai/events/50511-us-refiners-accelerate-transition-to-renewable-fuels-production-oil-and-gas.md) | +9.6% | -3.4% |
| WTI | 2021-08-27 | [OPEC+ faces mixed market signals after US pressure to increase oil supplies \| S&P Global](https://feedsoft.ai/events/45474-opec-faces-mixed-market-signals-after-us-pressure-to-increase-oil-supplies-s.md) | +3.9% | +9.9% |
| WTI | 2020-02-06 | [Russia drags its feet on deeper oil output cuts sought by OPEC+ \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/54531-russia-drags-its-feet-on-deeper-oil-output-cuts-sought-by-opec-coronavirus.md) | +0.6% | -9.7% |
| WTI | 2022-12-04 | [OPEC keeps oil supply cuts amid uncertainty of Russian sanctions - Los Angeles Times](https://feedsoft.ai/events/38142-opec-keeps-oil-supply-cuts-amid-uncertainty-of-russian-sanctions-los-angeles.md) | -11.1% | -3.8% |
| WTI | 2022-08-03 | [OPEC+ answers Biden’s diplomacy with tiny oil-output hike \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/39950-opec-answers-biden-s-diplomacy-with-tiny-oil-output-hike-opec-news-al-jazeera.md) | -4.1% | -4.5% |
| BRENT | 2021-08-27 | [OPEC+ faces mixed market signals after US pressure to increase oil supplies \| S&P Global](https://feedsoft.ai/events/45474-opec-faces-mixed-market-signals-after-us-pressure-to-increase-oil-supplies-s.md) | +3.6% | +8.6% |
| BRENT | 2020-02-06 | [Russia drags its feet on deeper oil output cuts sought by OPEC+ \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/54531-russia-drags-its-feet-on-deeper-oil-output-cuts-sought-by-opec-coronavirus.md) | +0.6% | -6.9% |
| BRENT | 2022-12-04 | [OPEC keeps oil supply cuts amid uncertainty of Russian sanctions - Los Angeles Times](https://feedsoft.ai/events/38142-opec-keeps-oil-supply-cuts-amid-uncertainty-of-russian-sanctions-los-angeles.md) | -11.4% | -5.6% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2019/5/19/saudi-uae-see-sufficient-oil-supplies-despite-iran-tensions

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