# Fitch assesses OPEC + decision for oil market | Report.az

> Fitch Ratings senior director Dmitry Marinchenko said the OPEC+ decision on February and March output parameters is positive for oil markets. The agreement extends current terms for most members, while Russia and Kazakhstan may raise output and Saudi Arabia and others will cut further. Fitch said the consensus reflected difficult negotiations and differing views.

- Date: 2021-01-06 · published 2021-01-06T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/49059-fitch-assesses-opec-decision-for-oil-market-report-az
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

By limiting the chance of a return to surplus, the OPEC+ parameters should support crude prices in the near term. Diverging member views suggest future decisions could be less predictable.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-12-01 | [Oil Futures Lower as Market Ponders OPEC Cuts](https://feedsoft.ai/events/32494-oil-futures-lower-as-market-ponders-opec-cuts.md) | -9.9% | -6.0% |
| BRENT | 2020-11-01 | [Oil Spikes After OPEC Claims ''The Worst Is Over For The Oil Market''](https://feedsoft.ai/events/50804-oil-spikes-after-opec-claims-the-worst-is-over-for-the-oil-market.md) | +5.1% | +28.8% |
| BRENT | 2017-05-26 | [OPEC decision stabilizes oil prices, but for how long? \| CBC News](https://feedsoft.ai/events/70934-opec-decision-stabilizes-oil-prices-but-for-how-long-cbc-news.md) | -2.9% | -13.5% |
| BRENT | 2020-06-05 | [Oil prices spike as OPEC+ nears output cut extension, job market rallies \| Fox Business](https://feedsoft.ai/events/52786-oil-prices-spike-as-opec-nears-output-cut-extension-job-market-rallies-fox.md) | -2.7% | +10.1% |
| WTI | 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) | +1.5% | +6.8% |
| WTI | 2023-12-01 | [Oil Futures Lower as Market Ponders OPEC Cuts](https://feedsoft.ai/events/32494-oil-futures-lower-as-market-ponders-opec-cuts.md) | -8.8% | -5.2% |
| WTI | 2020-11-01 | [Oil Spikes After OPEC Claims ''The Worst Is Over For The Oil Market''](https://feedsoft.ai/events/50804-oil-spikes-after-opec-claims-the-worst-is-over-for-the-oil-market.md) | +3.7% | +26.8% |

## Sources

- report.az: https://report.az/en/energy/the-news-is-positive-for-the-market-opec-generally-will-not-increase-production-yet-therefore-market-may-not-go

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