# OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg

> OPEC signaled it could cut oil output in 2019 over concerns about rising inventories and economic uncertainty. The move marks a shift from a recent pledge to pump flat out, after crude's September gains were erased in an October sell-off.

- Date: 2018-10-25 · published 2018-10-25T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62452-opec-lurches-from-pump-all-you-can-to-mulling-cuts-in-just-days-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A possible 2019 supply cut would tighten crude balances and support prices, which feeds into diesel and freight costs for feed mills and ingredient transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-06-30 | [OPEC Production Falls in June as Cartel Moves to Prolong Cuts - Bloomberg](https://feedsoft.ai/events/58524-opec-production-falls-in-june-as-cartel-moves-to-prolong-cuts-bloomberg.md) | -1.4% | -2.5% |
| WTI | 2016-11-30 | [Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg](https://feedsoft.ai/events/9704-brent-oil-jumps-to-highest-in-more-than-a-year-after-opec-accord-bloomberg.md) | +12.5% | +19.3% |
| WTI | 2023-02-16 | [OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says - Bloomberg](https://feedsoft.ai/events/37219-opec-deal-will-remain-in-place-all-year-saudi-minister-says-bloomberg.md) | -4.2% | -13.2% |
| WTI | 2019-01-08 | [Oil Bounces Back to Bull Market Fueled by OPEC Cuts, Trade Talks - Bloomberg](https://feedsoft.ai/events/11165-oil-bounces-back-to-bull-market-fueled-by-opec-cuts-trade-talks-bloomberg.md) | +4.2% | +12.9% |
| WTI | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -1.4% | -2.5% |
| BRENT | 2019-06-30 | [OPEC Production Falls in June as Cartel Moves to Prolong Cuts - Bloomberg](https://feedsoft.ai/events/58524-opec-production-falls-in-june-as-cartel-moves-to-prolong-cuts-bloomberg.md) | -4.2% | -6.1% |
| BRENT | 2016-11-30 | [Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg](https://feedsoft.ai/events/9704-brent-oil-jumps-to-highest-in-more-than-a-year-after-opec-accord-bloomberg.md) | +16.7% | +22.1% |
| BRENT | 2023-02-16 | [OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says - Bloomberg](https://feedsoft.ai/events/37219-opec-deal-will-remain-in-place-all-year-saudi-minister-says-bloomberg.md) | -5.5% | -12.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-10-25/opec-mulls-options-to-cut-2019-oil-output-to-prevent-oversupply

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