OPEC+ meetings
Oil producers decide how much crude to pump.
The basics
OPEC+ is a group of oil-producing countries, led by Saudi Arabia and Russia, that agree how much oil each will pump. Pumping less supports prices; pumping more weighs on them.
Decisions are often leaked or reported before the meeting ends, so prices can move during the day rather than at a set time.
How to read the result
- Above the forecast
- A bigger rise in output than expected, or an end to cuts, often weighs on oil prices.
- Below the forecast
- Deeper cuts than expected, or an extension of cuts, often supports oil prices.
Going deeper
Targets and real output differ: some members produce above their quota. Markets watch whether cuts are actually delivered in the months after a meeting, in the monthly production surveys.
FAQs
- Why can the price move the “wrong” way?
- Prices already reflect the forecast, so markets react to the surprise, not the number itself. Other parts of the same release, revisions to earlier months or other news in the same hour can outweigh the headline figure, and a first move often reverses within the hour.
- Should I close my trade before the release?
- That is your decision; this page does not give advice. What is certain is that prices can jump in seconds around big releases, spreads widen, and a stop loss can close at a worse price than the one you set. Many traders check their position size and stop before the release.