# Oil Prices Rise on Expectations for a Production Cut

> Oil posted its best day in over five months on expectations of production cuts and a US-China trade cease-fire agreed at the G-20 summit. Crude had been declining steeply since early October highs.

- Date: 2018-12-03 · published 2018-12-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10625-oil-prices-rise-on-expectations-for-a-production-cut
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher crude supports energy prices and biofuel economics, while a trade truce eases demand concerns for agricultural exports.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2016-11-30 | [OPEC Production Cut: What It Really Means for Oil Prices \| Fortune](https://feedsoft.ai/events/74026-opec-production-cut-what-it-really-means-for-oil-prices-fortune.md) | +16.7% | +22.1% |
| BRENT | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | +1.5% | -6.3% |
| BRENT | 2025-04-01 | [Oil prices rise for second consecutive week on expected tighter supply](https://feedsoft.ai/events/25750-oil-prices-rise-for-second-consecutive-week-on-expected-tighter-supply.md) | -14.2% | -15.6% |
| BRENT | 2018-12-07 | [Oil Prices Jump After OPEC Agrees To Bigger-Than-Expected Production Cut : NPR](https://feedsoft.ai/events/10628-oil-prices-jump-after-opec-agrees-to-bigger-than-expected-production-cut-npr.md) | +2.2% | -2.9% |
| BRENT | 2023-04-03 | [Oil Prices Jump After Surprise OPEC Production Cut - The New York Times](https://feedsoft.ai/events/7948-oil-prices-jump-after-surprise-opec-production-cut-the-new-york-times.md) | +7.4% | +1.0% |
| WTI | 2016-11-30 | [OPEC Production Cut: What It Really Means for Oil Prices \| Fortune](https://feedsoft.ai/events/74026-opec-production-cut-what-it-really-means-for-oil-prices-fortune.md) | +12.5% | +19.3% |
| WTI | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | -2.2% | -10.4% |
| WTI | 2025-04-01 | [Oil prices rise for second consecutive week on expected tighter supply](https://feedsoft.ai/events/25750-oil-prices-rise-for-second-consecutive-week-on-expected-tighter-supply.md) | -15.1% | -14.5% |

## Sources

- wsj.com: https://www.wsj.com/articles/crude-prices-surge-after-russia-saudi-arabia-agree-to-extend-cuts-1543836039?reflink=e2twmkts

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