# OPEC+ Clinches Compromise on Gradual Easing of Output Cuts | Financial Post

> OPEC+ agreed to ease oil output cuts from January after nearly a week of difficult talks that exposed a split between Saudi Arabia and the UAE. The group will add 500,000 barrels per day in January and hold monthly consultations on later steps. Brent rose toward $50 after closing at a nine-month high.

- Date: 2020-12-03 · published 2020-12-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/49558-opec-clinches-compromise-on-gradual-easing-of-output-cuts-financial-post
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The deal is expected to keep the oil market in deficit through the first quarter, draining inventories and supporting crude prices. Stronger energy prices raise costs for feed producers and can support biofuel-linked vegetable oil demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-02-01 | [Arab News \| Crude prices rise as OPEC cuts output as promised](https://feedsoft.ai/events/72674-arab-news-crude-prices-rise-as-opec-cuts-output-as-promised.md) | -1.9% | -1.8% |
| BRENT | 2026-09-08 | [OPEC+ sticks with plan to keep oil output quotas unchanged \| Financial Post](https://feedsoft.ai/events/17383-opec-sticks-with-plan-to-keep-oil-output-quotas-unchanged-financial-post.md) | +12.9% | +11.9% |
| 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 | 2016-12-01 | [OPEC reaches first deal to cut oil output since 2008](https://feedsoft.ai/events/9701-opec-reaches-first-deal-to-cut-oil-output-since-2008.md) | +6.6% | +12.9% |
| BRENT | 2020-06-06 | [OPEC, Allies Finalize Deal to Extend Oil-Output Cuts](https://feedsoft.ai/events/52510-opec-allies-finalize-deal-to-extend-oil-output-cuts.md) | -7.2% | +3.3% |
| WTI | 2017-02-01 | [Arab News \| Crude prices rise as OPEC cuts output as promised](https://feedsoft.ai/events/72674-arab-news-crude-prices-rise-as-opec-cuts-output-as-promised.md) | -1.1% | +2.0% |
| WTI | 2026-09-08 | [OPEC+ sticks with plan to keep oil output quotas unchanged \| Financial Post](https://feedsoft.ai/events/17383-opec-sticks-with-plan-to-keep-oil-output-quotas-unchanged-financial-post.md) | +10.6% | +1.7% |
| 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% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/opec-agrees-on-gradual-easing-of-oil-output-cuts-from-january

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