# Oil Producers Weigh More Cuts, Iraq Says - Bloomberg

> Iraq's oil minister said Iraq and some other producers in the global output cuts want an additional 1% supply reduction to rebalance the market. Some also favor extending the cuts through the end of 2018.

- Date: 2017-09-19 · published 2017-09-19T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/68864-oil-producers-weigh-more-cuts-iraq-says-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Talk of deeper or longer cuts supports crude prices by signaling tighter future supply.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-02-12 | [OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg](https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg.md) | +8.0% | +7.2% |
| BRENT | 2019-11-28 | [OPEC+ Sends More Signals It’ll Stick With Current Oil Cuts - Bloomberg](https://feedsoft.ai/events/55951-opec-sends-more-signals-it-ll-stick-with-current-oil-cuts-bloomberg.md) | -0.7% | +6.3% |
| BRENT | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +7.4% | +1.0% |
| 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 | 2018-01-21 | [Oil producers will cooperate beyond 2018, says Saudi Arabia](https://feedsoft.ai/events/66898-oil-producers-will-cooperate-beyond-2018-says-saudi-arabia.md) | +2.5% | -5.9% |
| WTI | 2019-02-12 | [OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg](https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg.md) | +6.0% | +8.3% |
| WTI | 2019-11-28 | [OPEC+ Sends More Signals It’ll Stick With Current Oil Cuts - Bloomberg](https://feedsoft.ai/events/55951-opec-sends-more-signals-it-ll-stick-with-current-oil-cuts-bloomberg.md) | +0.5% | +6.2% |
| WTI | 2023-04-02 | [OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut - Bloomberg](https://feedsoft.ai/events/36323-opec-makes-surprise-1-million-barrel-oil-production-cut-bloomberg.md) | +5.4% | -0.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-09-19/iraq-backs-additional-1-cut-in-oil-output-with-others-in-opec

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