# OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg

> The head of OPEC urged member countries and allies to follow through on their pledges to cut oil production. The group reportedly made a strong start to the new round of cuts in January.

- Date: 2019-02-12 · published 2019-02-12T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Firm compliance pledges signal continued supply restraint, which is mildly supportive for crude and energy-linked input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-09-19 | [Oil Producers Weigh More Cuts, Iraq Says - Bloomberg](https://feedsoft.ai/events/68864-oil-producers-weigh-more-cuts-iraq-says-bloomberg.md) | +6.7% | +3.9% |
| BRENT | 2017-03-01 | [Oil rises as Opec sticks to output pledges, rising US production cap gains](https://feedsoft.ai/events/72159-oil-rises-as-opec-sticks-to-output-pledges-rising-us-production-cap-gains.md) | +1.5% | -6.3% |
| BRENT | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +7.4% | +1.0% |
| BRENT | 2019-11-21 | [Oil Prices Surge as OPEC Looks to Cut Output \| INN](https://feedsoft.ai/events/56233-oil-prices-surge-as-opec-looks-to-cut-output-inn.md) | +2.3% | +7.2% |
| BRENT | 2023-04-03 | [Opec+ agrees to stick to oil output targets as members pledge voluntary cuts    \| The National](https://feedsoft.ai/events/36324-opec-agrees-to-stick-to-oil-output-targets-as-members-pledge-voluntary-cuts-the.md) | +7.4% | +1.0% |
| WTI | 2017-09-19 | [Oil Producers Weigh More Cuts, Iraq Says - Bloomberg](https://feedsoft.ai/events/68864-oil-producers-weigh-more-cuts-iraq-says-bloomberg.md) | +4.2% | +4.0% |
| WTI | 2017-03-01 | [Oil rises as Opec sticks to output pledges, rising US production cap gains](https://feedsoft.ai/events/72159-oil-rises-as-opec-sticks-to-output-pledges-rising-us-production-cap-gains.md) | -2.2% | -10.4% |
| WTI | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +5.4% | -0.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-02-12/opec-chief-urges-producers-to-follow-through-on-pledges-to-cut

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