# Falih: No oil shortage, OPEC to act if needed | Kuwait Times Newspaper

> Saudi Energy Minister Khalid al-Falih said he saw no oil shortage because global inventories were still rising, especially in the US. He said OPEC would respond to market needs and decide on output at its June meeting. OPEC+ had agreed to cut output by 1.2 million bpd from January 1 for six months.

- Date: 2019-05-18 · published 2019-05-18T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/59021-falih-no-oil-shortage-opec-to-act-if-needed-kuwait-times-newspaper
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Confidence that supply is ample limits near-term crude price gains, which keeps fuel and freight costs for feed buyers stable.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-12-03 | [OPEC, Russia to nudge up oil output after hit from pandemic \| The Seattle Times](https://feedsoft.ai/events/49559-opec-russia-to-nudge-up-oil-output-after-hit-from-pandemic-the-seattle-times.md) | +0.5% | +7.0% |
| WTI | 2026-10-01 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17056-opec-agrees-to-keep-november-oil-output-targets-steady.md) | -2.3% | +8.7% |
| WTI | 2026-10-04 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17059-opec-agrees-to-keep-november-oil-output-targets-steady.md) | +0.8% | +8.4% |
| WTI | 2021-06-30 | [Oil prices could skyrocket if OPEC+ fails in pledge to deliver more supply](https://feedsoft.ai/events/46780-oil-prices-could-skyrocket-if-opec-fails-in-pledge-to-deliver-more-supply.md) | -1.2% | -1.0% |
| WTI | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -5.5% | -7.1% |
| BRENT | 2020-12-03 | [OPEC, Russia to nudge up oil output after hit from pandemic \| The Seattle Times](https://feedsoft.ai/events/49559-opec-russia-to-nudge-up-oil-output-after-hit-from-pandemic-the-seattle-times.md) | +1.7% | +7.3% |
| BRENT | 2026-10-04 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17059-opec-agrees-to-keep-november-oil-output-targets-steady.md) | -0.9% | +2.2% |
| BRENT | 2026-10-01 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17056-opec-agrees-to-keep-november-oil-output-targets-steady.md) | +2.6% | +8.8% |

## Sources

- kuwaittimes.com: https://kuwaittimes.com/falih-no-oil-shortage-opec-to-act-if-needed/

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