# OPEC's in `Produce as Much as You Can Mode,' Al-Falih Says - Bloomberg

> Saudi Energy Minister Khalid Al-Falih said OPEC and allies are in a produce-as-much-as-you-can mode to meet demand. Saudi output has already reached 10.7 million bpd, near an all-time high, and can rise further to offset shortfalls from US sanctions on Iran that take effect next month.

- Date: 2018-10-23 · published 2018-10-23T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62455-opec-s-in-produce-as-much-as-you-can-mode-al-falih-says-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signaled spare capacity and willingness to add supply cap upside in crude, reducing the risk of a sanctions-driven spike in fuel costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-01 | 5 | -7.1% | -2.8 | Saudi pledges to produce as much as possible, with output at 10.7 million bpd, raised supply expectations and eased sanction-related tightness fears. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-10-25 | [OPEC Should Boost Crude Production at Next Meeting, the IEA Says - Bloomberg](https://feedsoft.ai/events/62454-opec-should-boost-crude-production-at-next-meeting-the-iea-says-bloomberg.md) | -2.0% | -18.3% |
| WTI | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -1.9% | +8.5% |
| WTI | 2021-12-02 | [Oil Plunges 4.8% as Russia Is Said to Propose OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/6306-oil-plunges-4-8-as-russia-is-said-to-propose-opec-output-hike-bloomberg.md) | +10.6% | +17.4% |
| WTI | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +1.7% | +0.1% |
| WTI | 2019-04-25 | [Oil Tumbles Most in Two Months as Trump Promises Lower Prices - Bloomberg](https://feedsoft.ai/events/8094-oil-tumbles-most-in-two-months-as-trump-promises-lower-prices-bloomberg.md) | -3.6% | -6.8% |
| BRENT | 2018-10-25 | [OPEC Should Boost Crude Production at Next Meeting, the IEA Says - Bloomberg](https://feedsoft.ai/events/62454-opec-should-boost-crude-production-at-next-meeting-the-iea-says-bloomberg.md) | -2.1% | -18.5% |
| BRENT | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -2.0% | +7.9% |
| BRENT | 2021-12-02 | [Oil Plunges 4.8% as Russia Is Said to Propose OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/6306-oil-plunges-4-8-as-russia-is-said-to-propose-opec-output-hike-bloomberg.md) | +9.7% | +14.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-10-23/saudi-oil-chief-says-opec-s-in-produce-as-much-as-you-can-mode

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