# Saudi Arabia in short-term oil fix, fears extra U.S. supply next year

> Saudi Arabia and other producers discussed a possible production increase of about 500,000 barrels per day among OPEC and non-OPEC members. The article also flags concern about additional US supply next year.

- Date: 2018-09-27 · published 2018-09-27T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/62932-saudi-arabia-in-short-term-oil-fix-fears-extra-u-s-supply-next-year
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Talk of extra supply from both OPEC and US shale points to softer crude prices later, which would lower energy and freight costs for feed users.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-08 | [Saudi Arabia slashes April oil selling prices as OPEC+ fails to extend output curbs](https://feedsoft.ai/events/4424-saudi-arabia-slashes-april-oil-selling-prices-as-opec-fails-to-extend-output.md) | -23.0% | -31.2% |
| WTI | 2025-06-24 | [Arab News \| Oil Updates — crude extends losses on lower Middle East supply risk](https://feedsoft.ai/events/10002-arab-news-oil-updates-crude-extends-losses-on-lower-middle-east-supply-risk.md) | -4.6% | -1.6% |
| WTI | 2018-11-26 | [Saudi Arabia pumps record amount of oil as Trump piles on pressure \| Reuters](https://feedsoft.ai/events/61947-saudi-arabia-pumps-record-amount-of-oil-as-trump-piles-on-pressure-reuters.md) | -4.2% | -14.3% |
| WTI | 2020-04-06 | [Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar \| Reuters](https://feedsoft.ai/events/53814-oil-falls-after-saudi-arabia-russia-delay-meeting-cushing-stockpiles-soar.md) | -21.1% | -13.4% |
| WTI | 2026-10-29 | [Oil prices fall as hopes of US-Iran peace talks ease supply fears \| Commodity News - Business Standard](https://feedsoft.ai/events/253-oil-prices-fall-as-hopes-of-us-iran-peace-talks-ease-supply-fears-commodity.md) | -2.3% | — |
| BRENT | 2022-11-18 | [European refiners oversupplied as oil shortage fears subside](https://feedsoft.ai/events/38870-european-refiners-oversupplied-as-oil-shortage-fears-subside.md) | -5.4% | -9.5% |
| BRENT | 2020-03-08 | [Saudi Arabia slashes April oil selling prices as OPEC+ fails to extend output curbs](https://feedsoft.ai/events/4424-saudi-arabia-slashes-april-oil-selling-prices-as-opec-fails-to-extend-output.md) | -27.3% | -36.6% |
| BRENT | 2026-05-03 | [OPEC+ countries, including Saudi Arabia and Russia, to boost oil production \| AP News](https://feedsoft.ai/events/19149-opec-countries-including-saudi-arabia-and-russia-to-boost-oil-production-ap-news.md) | -9.5% | -14.6% |

## Sources

- reuters.com: https://www.reuters.com/article/us-oil-opec-saudi/saudi-arabia-in-short-term-oil-fix-fears-extra-u-s-supply-next-year-idUSKCN1M70UW/

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