# OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn - Bloomberg

> OPEC signaled it will consider returning to output cuts in 2019, which would be its second production U-turn this year. The shift came amid a volatile oil market and political pressure from President Donald Trump.

- Date: 2018-11-07 · published 2018-11-07T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/61949-opec-considers-2019-oil-production-cuts-in-yet-another-u-turn-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Prospects of renewed cuts give crude price support after a sharp selloff, which matters for energy and biofuel costs in feed.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-11-07 | [Return to oil production cuts in 2019 cannot be ruled out - OPEC sources](https://feedsoft.ai/events/61945-return-to-oil-production-cuts-in-2019-cannot-be-ruled-out-opec-sources.md) | -10.5% | -15.0% |
| WTI | 2018-11-30 | [OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg](https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg.md) | +0.1% | -12.1% |
| 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 | 2020-11-30 | [OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR](https://feedsoft.ai/events/50061-opec-meets-to-decide-whether-cuts-in-oil-production-are-still-needed-npr.md) | +1.5% | +4.3% |
| 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% |
| BRENT | 2018-11-07 | [Return to oil production cuts in 2019 cannot be ruled out - OPEC sources](https://feedsoft.ai/events/61945-return-to-oil-production-cuts-in-2019-cannot-be-ruled-out-opec-sources.md) | -8.3% | -13.6% |
| BRENT | 2018-11-30 | [OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg](https://feedsoft.ai/events/61942-opec-advisory-committee-said-to-recommend-oil-production-cut-bloomberg.md) | +0.1% | -12.8% |
| 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% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-11-07/opec-ministers-meet-as-oil-s-slump-spurs-talk-of-another-u-turn

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