# OPEC will likely balance the oil market by next month: Goldman Sachs

> Goldman Sachs' Jeff Currie said OPEC and allies will likely rebalance the oil market by April, with the group withholding about 1.2 million bpd. He noted OPEC is cutting output faster than expected and Venezuelan supply is falling. OPEC will need to outline plans to lift curbs by May or June.

- Date: 2019-03-04 · published 2019-03-04T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/60282-opec-will-likely-balance-the-oil-market-by-next-month-goldman-sachs
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected market rebalancing supports crude prices in the near term, but a clear exit plan from output cuts could bring supply back and cap prices later in 2019.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-30 | [Goldman Sachs: Diesel Crunch Is Now the Biggest Threat in Oil Markets \| OilPrice.com](https://feedsoft.ai/events/18536-goldman-sachs-diesel-crunch-is-now-the-biggest-threat-in-oil-markets-oilprice.md) | -10.8% | -2.9% |
| WTI | 2018-12-07 | [The Latest: OPEC backs 6-month oil production cut package \| AP News](https://feedsoft.ai/events/61454-the-latest-opec-backs-6-month-oil-production-cut-package-ap-news.md) | +2.2% | -6.2% |
| WTI | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.8% | +6.2% |
| WTI | 2019-01-31 | [Futures Movers: Oil Gains, With U.S. Prices Up More Than 20% For The Month - Global Financial Market Review](https://feedsoft.ai/events/61009-futures-movers-oil-gains-with-u-s-prices-up-more-than-20-for-the-month-global.md) | -0.4% | +5.0% |
| WTI | 2020-05-16 | [OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg](https://feedsoft.ai/events/53027-opec-supply-cuts-latest-oil-market-news-on-output-status-bloomberg.md) | +13.5% | +26.0% |
| BRENT | 2026-07-30 | [Goldman Sachs: Diesel Crunch Is Now the Biggest Threat in Oil Markets \| OilPrice.com](https://feedsoft.ai/events/18536-goldman-sachs-diesel-crunch-is-now-the-biggest-threat-in-oil-markets-oilprice.md) | -9.2% | -3.9% |
| BRENT | 2018-12-07 | [The Latest: OPEC backs 6-month oil production cut package \| AP News](https://feedsoft.ai/events/61454-the-latest-opec-backs-6-month-oil-production-cut-package-ap-news.md) | +2.2% | -2.9% |
| BRENT | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.3% | +5.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/03/04/opec-will-likely-balance-the-oil-market-by-next-month-goldman-sachs.html

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