# OPEC Expands Control Of Oil Markets As Shale Growth Stalls | OilPrice.com

> OilPrice.com reports that OPEC has expanded its control over oil markets as U.S. shale growth slows. Analysts expect U.S. shale to add only about 500,000 barrels a day in 2023, with labor shortages, capital discipline and high interest rates constraining output.

- Date: 2023-01-18 · published 2023-01-18T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37961-opec-expands-control-of-oil-markets-as-shale-growth-stalls-oilprice-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

With shale growth slowing and OPEC regaining its swing role, supply is less elastic, which supports crude prices and the energy costs that feed producers face.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.6% | +5.2% |
| WTI | 2016-12-01 | [C$ strengthens as oil extends rally on OPEC deal](https://feedsoft.ai/events/73708-c-strengthens-as-oil-extends-rally-on-opec-deal.md) | +0.8% | +8.8% |
| WTI | 2017-04-12 | [Syria, OPEC, and Oil Prices](https://feedsoft.ai/events/71674-syria-opec-and-oil-prices.md) | -5.5% | -11.4% |
| WTI | 2022-10-26 | [Weak dollar, big U.S. crude exports buoy oil markets](https://feedsoft.ai/events/39037-weak-dollar-big-u-s-crude-exports-buoy-oil-markets.md) | +2.6% | -6.1% |
| WTI | 2018-07-24 | [Crude oil market gets whiplash, investors should expect more volatility](https://feedsoft.ai/events/64202-crude-oil-market-gets-whiplash-investors-should-expect-more-volatility.md) | +4.3% | -2.1% |
| BRENT | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.1% | +5.2% |
| BRENT | 2016-12-01 | [C$ strengthens as oil extends rally on OPEC deal](https://feedsoft.ai/events/73708-c-strengthens-as-oil-extends-rally-on-opec-deal.md) | +6.6% | +12.9% |
| BRENT | 2017-04-12 | [Syria, OPEC, and Oil Prices](https://feedsoft.ai/events/71674-syria-opec-and-oil-prices.md) | -5.0% | -11.4% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/OPEC-Expands-Control-Of-Oil-Markets-As-Shale-Growth-Stalls.html

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