# OPEC And Allied Nations Have Agreed To End A Dispute That Has Roiled Energy Prices : NPR

> OPEC and allied nations agreed to raise production limits for five countries, ending a dispute sparked by the UAE's demand for higher output. Iraq, Kuwait, Russia, Saudi Arabia and the UAE will see their limits rise. Saudi Energy Minister Prince Abdulaziz bin Salman said the members remain bonded despite differences.

- Date: 2021-07-18 · published 2021-07-18T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/45992-opec-and-allied-nations-have-agreed-to-end-a-dispute-that-has-roiled-energy
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Ending the dispute reduces the risk of an uncoordinated output surge that would have hit prices. Higher limits still add future supply, which is bearish for crude.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-07-18 | [OPEC, allies raise limits for 5 countries to end oil dispute \| AP News](https://feedsoft.ai/events/45986-opec-allies-raise-limits-for-5-countries-to-end-oil-dispute-ap-news.md) | +0.6% | -4.4% |
| BRENT | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +6.0% | -0.6% |
| BRENT | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.4% |
| BRENT | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -3.5% | -5.4% |
| BRENT | 2021-03-31 | [OPEC and allies agree to gradually boost crude oil output \| AP News](https://feedsoft.ai/events/47508-opec-and-allies-agree-to-gradually-boost-crude-oil-output-ap-news.md) | -1.9% | +5.4% |
| WTI | 2021-07-18 | [OPEC, allies raise limits for 5 countries to end oil dispute \| AP News](https://feedsoft.ai/events/45986-opec-allies-raise-limits-for-5-countries-to-end-oil-dispute-ap-news.md) | +0.6% | -4.7% |
| WTI | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +5.8% | -7.1% |
| WTI | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.7% |

## Sources

- npr.org: https://www.npr.org/2021/07/18/1017573693/opec-and-allied-nations-have-agreed-to-end-a-dispute-that-has-roiled-energy-pric

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