# Signals from OPEC+ Zooms Crude Oil Prices | Business Post Nigeria

> Brent rose to about $35.07 and WTI to $33.45 on May 28 after signals that Saudi Arabia and OPEC+ allies may extend deep output cuts through 2020. Saudi Arabia and Russia are to coordinate on future output, with a meeting planned for June.

- Date: 2020-05-29 · published 2020-05-29T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53307-signals-from-opec-zooms-crude-oil-prices-business-post-nigeria
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Possible extension of OPEC+ cuts through year-end would keep crude supported, lifting energy and freight costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-08-26 | [Oil prices rise on signals OPEC might cut output](https://feedsoft.ai/events/40228-oil-prices-rise-on-signals-opec-might-cut-output.md) | -6.8% | -8.7% |
| BRENT | 2023-04-02 | [Oil prices: Brent crude, WTI surge after OPEC producers announce production cuts \| CNN Business](https://feedsoft.ai/events/7953-oil-prices-brent-crude-wti-surge-after-opec-producers-announce-production-cuts.md) | +7.4% | +1.0% |
| BRENT | 2017-10-09 | [Oil prices climb after OPEC signals possible deal extension](https://feedsoft.ai/events/68621-oil-prices-climb-after-opec-signals-possible-deal-extension.md) | +2.6% | +11.1% |
| BRENT | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +2.8% | -0.3% |
| BRENT | 2021-03-04 | [Oil prices surge as OPEC and its allies extend production cuts \| CNN Business](https://feedsoft.ai/events/48045-oil-prices-surge-as-opec-and-its-allies-extend-production-cuts-cnn-business.md) | +5.2% | -1.3% |
| WTI | 2022-08-26 | [Oil prices rise on signals OPEC might cut output](https://feedsoft.ai/events/40228-oil-prices-rise-on-signals-opec-might-cut-output.md) | -6.6% | -15.2% |
| WTI | 2023-04-02 | [Oil prices: Brent crude, WTI surge after OPEC producers announce production cuts \| CNN Business](https://feedsoft.ai/events/7953-oil-prices-brent-crude-wti-surge-after-opec-producers-announce-production-cuts.md) | +5.4% | -0.0% |
| WTI | 2017-10-09 | [Oil prices climb after OPEC signals possible deal extension](https://feedsoft.ai/events/68621-oil-prices-climb-after-opec-signals-possible-deal-extension.md) | +4.3% | +12.8% |

## Sources

- businesspost.ng: https://businesspost.ng/economy/signals-from-opec-zooms-crude-oil-prices/

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