# OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg

> OPEC's Economic Commission Board, its main advisory group, reportedly recommended that the cartel trim output by 1.3 million barrels per day from October 2018 levels to balance supply and demand in 2019. The recommendation was relayed by an unnamed delegate.

- Date: 2018-11-30 · published 2018-11-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A cut of this size would tighten crude supply and typically lift crude prices, which feed into diesel and biofuel costs and sentiment across the energy-linked feed chain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-12 | [Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg](https://feedsoft.ai/events/53541-oil-news-opec-deal-to-cut-production-reached-price-war-ends-bloomberg.md) | -19.9% | +5.3% |
| WTI | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -8.3% | +2.6% |
| WTI | 2018-11-07 | [OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn - Bloomberg](https://feedsoft.ai/events/61949-opec-considers-2019-oil-production-cuts-in-yet-another-u-turn-bloomberg.md) | -10.5% | -15.0% |
| WTI | 2023-02-10 | [OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg](https://feedsoft.ai/events/37221-opec-won-t-increase-oil-production-despite-russia-output-cut-delegates-say.md) | +0.5% | -1.9% |
| WTI | 2018-12-07 | [OPEC and Russia agree to slash oil production \| CNN Business](https://feedsoft.ai/events/61456-opec-and-russia-agree-to-slash-oil-production-cnn-business.md) | +2.2% | -6.2% |
| BRENT | 2020-04-12 | [Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg](https://feedsoft.ai/events/53541-oil-news-opec-deal-to-cut-production-reached-price-war-ends-bloomberg.md) | -6.7% | +8.6% |
| BRENT | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -7.2% | +3.3% |
| BRENT | 2018-11-07 | [OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn - Bloomberg](https://feedsoft.ai/events/61949-opec-considers-2019-oil-production-cuts-in-yet-another-u-turn-bloomberg.md) | -8.3% | -13.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-11-30/opec-advisory-committee-said-to-recommend-oil-production-cut

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