# OPEC, Russia rebuff Trump's call for immediate boost to oil output

> Saudi Arabia and Russia ruled out any immediate additional crude output increase at an OPEC and non-OPEC meeting in Algiers, rebuffing calls from US President Donald Trump to cool the market. The ministerial meeting ended without a formal recommendation for a supply boost.

- Date: 2018-09-24 · published 2018-09-24T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/62928-opec-russia-rebuff-trump-s-call-for-immediate-boost-to-oil-output
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Rejecting a near-term output increase keeps crude tight while Iranian supply faces US sanctions, supporting energy costs for feed producers through diesel, natural gas and fertilizer inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-07-15 | [Oil rises 2% as no immediate Saudi output boost expected](https://feedsoft.ai/events/40660-oil-rises-2-as-no-immediate-saudi-output-boost-expected.md) | +0.6% | -1.0% |
| WTI | 2022-09-27 | [Crude Rallies on Reports Russia Will Push for OPEC+ to Cut Output](https://feedsoft.ai/events/39752-crude-rallies-on-reports-russia-will-push-for-opec-to-cut-output.md) | +9.0% | +11.1% |
| WTI | 2019-06-26 | [Trump's sanctions cut more OPEC oil output than OPEC itself \| Reuters](https://feedsoft.ai/events/58530-trump-s-sanctions-cut-more-opec-oil-output-than-opec-itself-reuters.md) | -2.8% | -3.1% |
| WTI | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.5% | -1.9% |
| 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 | 2022-07-15 | [Oil rises 2% as no immediate Saudi output boost expected](https://feedsoft.ai/events/40660-oil-rises-2-as-no-immediate-saudi-output-boost-expected.md) | +4.8% | -0.0% |
| BRENT | 2019-06-26 | [Trump's sanctions cut more OPEC oil output than OPEC itself \| Reuters](https://feedsoft.ai/events/58530-trump-s-sanctions-cut-more-opec-oil-output-than-opec-itself-reuters.md) | -4.7% | -3.9% |
| BRENT | 2023-02-10 | [Russia to cut oil output by 500,000 bpd in March](https://feedsoft.ai/events/37488-russia-to-cut-oil-output-by-500-000-bpd-in-march.md) | +0.6% | -3.2% |

## Sources

- reuters.com: https://www.reuters.com/article/business/opec-russia-rebuff-trumps-call-for-immediate-boost-to-oil-output-idUSKCN1M306W/

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