# Saudi pledges stable oil supply as market confused by data

> Saudi Arabia said it will keep supply stable at around 10 million bpd, in line with its OPEC quota, and will not supply the market more than that level. The statement follows confusion in market data about Saudi output.

- Date: 2017-03-23 · published 2017-03-23T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/71900-saudi-pledges-stable-oil-supply-as-market-confused-by-data
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firm Saudi supply ceiling supports the view that the cut is being honored, which provides some underpinning for crude and related energy prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-06-04 | [Saudi pledges big oil cuts in July as OPEC+ extends deal into 2024](https://feedsoft.ai/events/35396-saudi-pledges-big-oil-cuts-in-july-as-opec-extends-deal-into-2024.md) | -1.7% | -1.8% |
| BRENT | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -1.4% | +5.4% |
| BRENT | 2022-09-05 | [OPEC+ agrees to make token supply cut to steady oil market](https://feedsoft.ai/events/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market.md) | -0.9% | -5.0% |
| BRENT | 2019-10-10 | [Oil prices rise as OPEC pledges decision on supply \| Financial Post](https://feedsoft.ai/events/56468-oil-prices-rise-as-opec-pledges-decision-on-supply-financial-post.md) | +0.6% | +4.9% |
| BRENT | 2023-09-12 | [OPEC Oil Data Show 3 Million-Barrel Supply Shortfall as Saudi Arabia Extends Cut - Bloomberg](https://feedsoft.ai/events/34014-opec-oil-data-show-3-million-barrel-supply-shortfall-as-saudi-arabia-extends.md) | +4.3% | -1.7% |
| WTI | 2023-06-04 | [Saudi pledges big oil cuts in July as OPEC+ extends deal into 2024](https://feedsoft.ai/events/35396-saudi-pledges-big-oil-cuts-in-july-as-opec-extends-deal-into-2024.md) | -2.2% | -2.8% |
| WTI | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -2.1% | +6.3% |
| WTI | 2022-09-05 | [OPEC+ agrees to make token supply cut to steady oil market](https://feedsoft.ai/events/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market.md) | +1.0% | -3.7% |

## Sources

- reuters.com: https://www.reuters.com/article/us-opec-saudi-oil-idUSKBN16U1OL/

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