# Future of OPEC supply cap deal looks uncertain as Russia mulls quitting – Businessday NG

> Russian Energy Minister Novak reportedly told Saudi counterpart al-Falih he cannot guarantee extending the OPEC+ cut agreement through year-end and may only extend to September. Brent and WTI rose in the first quarter, helped by the cuts and US sanctions on Iran and Venezuela.

- Date: 2019-04-02 · published 2019-04-02T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59508-future-of-opec-supply-cap-deal-looks-uncertain-as-russia-mulls-quitting
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Risk that OPEC+ cuts end early points to rising supply later, which would weigh on crude and reduce energy and biofuel input costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2019-04-09 | [With Russia Cold To Cuts And Libya On Fire, OPEC Supply Squeeze May End \| Investing.com](https://feedsoft.ai/events/59504-with-russia-cold-to-cuts-and-libya-on-fire-opec-supply-squeeze-may-end.md) | -0.1% | -1.0% |
| BRENT | 2019-09-11 | [Saudi Arabia and Russia call for OPEC+ cohesiveness with supply cuts](https://feedsoft.ai/events/57006-saudi-arabia-and-russia-call-for-opec-cohesiveness-with-supply-cuts.md) | +2.4% | -8.4% |
| BRENT | 2022-08-03 | [OPEC agrees to produce slightly more oil as recession fears loom \| CNN Business](https://feedsoft.ai/events/39949-opec-agrees-to-produce-slightly-more-oil-as-recession-fears-loom-cnn-business.md) | -3.4% | -4.0% |
| BRENT | 2023-02-01 | [OPEC+ keeps output steady amid uncertainty on China and Russia](https://feedsoft.ai/events/37228-opec-keeps-output-steady-amid-uncertainty-on-china-and-russia.md) | -0.8% | -0.5% |
| 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 | 2019-04-09 | [With Russia Cold To Cuts And Libya On Fire, OPEC Supply Squeeze May End \| Investing.com](https://feedsoft.ai/events/59504-with-russia-cold-to-cuts-and-libya-on-fire-opec-supply-squeeze-may-end.md) | -1.5% | -4.6% |
| WTI | 2019-09-11 | [Saudi Arabia and Russia call for OPEC+ cohesiveness with supply cuts](https://feedsoft.ai/events/57006-saudi-arabia-and-russia-call-for-opec-cohesiveness-with-supply-cuts.md) | +3.3% | -8.3% |

## Sources

- businessday.ng: https://businessday.ng/energy/oilandgas/article/future-of-opec-supply-cap-deal-looks-uncertain-as-russia-mulls-quitting/

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