# Analysis: OPEC weighs next move with oil market fundamentals hazy

> OPEC's plan to raise production by 1 million b/d with Russia and allies has stalled, with ample supply in key Asian markets. Saudi Arabia is positioned as the swing producer, and Venezuela's economic crisis and Iran sanctions add uncertainty. Trade wars and demand risks further complicate the outlook.

- Date: 2018-08-21 · published 2018-08-21T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/63438-analysis-opec-weighs-next-move-with-oil-market-fundamentals-hazy
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Uncertainty over whether OPEC will cut or add supply leaves crude prices without a clear direction, which feeds through to energy and freight costs for feed buyers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-02-03 | [Opec+ JMMC ends with no recommendation \| Latest Market News](https://feedsoft.ai/events/48550-opec-jmmc-ends-with-no-recommendation-latest-market-news.md) | +5.9% | +9.4% |
| BRENT | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.1% | +4.6% |
| BRENT | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -6.5% | -6.3% |
| BRENT | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +3.3% | +16.7% |
| BRENT | 2022-05-05 | [OPEC+ opens oil taps gradually as Russian war roils markets \| AP News](https://feedsoft.ai/events/41318-opec-opens-oil-taps-gradually-as-russian-war-roils-markets-ap-news.md) | -2.5% | +8.0% |
| WTI | 2021-02-03 | [Opec+ JMMC ends with no recommendation \| Latest Market News](https://feedsoft.ai/events/48550-opec-jmmc-ends-with-no-recommendation-latest-market-news.md) | +6.5% | +12.0% |
| WTI | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.3% | +4.7% |
| WTI | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -5.5% | -7.1% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/082118-analysis-opec-weighs-next-move-with-oil-market-fundamentals-hazy?hootpostid=9c167f3db7581ae05113b3e05c0809b2

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