# OPEC Scraps April Meeting but Keeps Oil Cuts in Place

> OPEC scrapped its planned April meeting and will decide in June whether to extend output cuts. Saudi Energy Minister Khalid al-Falih said the market looked oversupplied until year-end but that April was too early for a decision. U.S. sanctions on Iran and Venezuela are complicating supply forecasts.

- Date: 2019-03-18 · published 2019-03-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/60016-opec-scraps-april-meeting-but-keeps-oil-cuts-in-place
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Delaying a decision keeps the cuts uncertain through the second quarter, which supports crude prices in the near term while the market waits for June guidance.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-08-30 | [Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place \| OilPrice.com](https://feedsoft.ai/events/45476-oil-could-rise-further-as-opec-suggests-keeping-output-cuts-in-place-oilprice.md) | +0.5% | +7.3% |
| BRENT | 2021-03-04 | [OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb](https://feedsoft.ai/events/48039-opec-extends-most-oil-output-cuts-into-april-saudi-keeps-voluntary-curb.md) | +5.2% | -1.3% |
| BRENT | 2019-11-30 | [OPEC Oil Output Slips Before Vienna Meeting](https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting.md) | +3.1% | +7.7% |
| BRENT | 2023-12-01 | [OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts \| Euronews](https://feedsoft.ai/events/32491-opec-meeting-russia-and-saudi-arabia-extend-oil-output-cuts-euronews.md) | -9.9% | -6.0% |
| BRENT | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +2.8% | -0.3% |
| WTI | 2021-08-30 | [Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place \| OilPrice.com](https://feedsoft.ai/events/45476-oil-could-rise-further-as-opec-suggests-keeping-output-cuts-in-place-oilprice.md) | +0.8% | +9.7% |
| WTI | 2021-03-04 | [OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb](https://feedsoft.ai/events/48039-opec-extends-most-oil-output-cuts-into-april-saudi-keeps-voluntary-curb.md) | +5.1% | -3.5% |
| WTI | 2019-11-30 | [OPEC Oil Output Slips Before Vienna Meeting](https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting.md) | +3.6% | +8.1% |

## Sources

- voanews.com: https://www.voanews.com/a/opec-scraps-april-meeting-but-keeps-oil-cuts-in-place/4835851.html

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