# OPEC crude output cuts should help US shale profits in 2021 - Markets - Business Recorder

> OPEC and allied countries agreed to cut crude output through March, with Saudi Arabia voluntarily reducing production by 1 million b/d. WTI topped $52 a barrel, and the 12-month futures price rose to $51.37 from $44.63 in early December.

- Date: 2021-01-10 · published 2021-01-10T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/49319-opec-crude-output-cuts-should-help-us-shale-profits-in-2021-markets-business
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Output cuts support crude prices, and the higher forward curve encourages US shale to return to drilling. The effect on oil prices is modest and may limit future supply growth.

## Read by commodity

- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-08-19 | [OPEC+ meets to review compliance with oil cuts - Markets - Business Recorder](https://feedsoft.ai/events/51536-opec-meets-to-review-compliance-with-oil-cuts-markets-business-recorder.md) | +0.8% | -6.3% |
| WTI | 2024-10-21 | [Palm opens higher, buoyed by stronger crude, Chicago soyoil - Markets - Business Recorder](https://feedsoft.ai/events/11149-palm-opens-higher-buoyed-by-stronger-crude-chicago-soyoil-markets-business.md) | +3.4% | -3.4% |
| WTI | 2022-12-19 | [Palm oil firms on higher crude prices, Indonesia’s plan to raise biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/38333-palm-oil-firms-on-higher-crude-prices-indonesia-s-plan-to-raise-biofuel-mandate.md) | +7.2% | +7.1% |
| WTI | 2026-03-30 | [Palm futures hit 15-month high on Indonesia biodiesel plans, crude rally - Markets - Business Recorder](https://feedsoft.ai/events/20264-palm-futures-hit-15-month-high-on-indonesia-biodiesel-plans-crude-rally-markets.md) | +12.7% | -2.0% |
| WTI | 2021-03-04 | [OPEC shocks oil markets with plan to keep crude output constrained](https://feedsoft.ai/events/48041-opec-shocks-oil-markets-with-plan-to-keep-crude-output-constrained.md) | +5.1% | -3.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40049539

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