# OPEC, Russia want to continue output curbs on oil to boost investment | Business News

> OPEC and Russia signaled they want to keep output curbs in place beyond the goal of eliminating the inventory surplus, citing the need to boost oil and gas investment. Saudi and Russian ministers said there is no fixed formula for ending the cuts, and the surplus has already been reduced by about 97 percent.

- Date: 2018-04-20 · published 2018-04-20T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/65427-opec-russia-want-to-continue-output-curbs-on-oil-to-boost-investment-business
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Continued curbs keep supply constrained, which supports crude prices. Higher prices would also feed through to energy and transport costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-04-01 | [OPEC+ Resolves to Continue with Gradual 400,000 bpd Oil Output Hikes – Arise News](https://feedsoft.ai/events/41756-opec-resolves-to-continue-with-gradual-400-000-bpd-oil-output-hikes-arise-news.md) | -4.4% | +4.2% |
| WTI | 2017-07-24 | [OPEC moves to cap Nigerian oil output, boost production cut compliance \| CBC News](https://feedsoft.ai/events/69865-opec-moves-to-cap-nigerian-oil-output-boost-production-cut-compliance-cbc-news.md) | +8.6% | +6.1% |
| WTI | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -2.2% | -1.6% |
| WTI | 2017-12-01 | [Mexico agrees to continue output cut in line with OPEC - BNamericas](https://feedsoft.ai/events/67412-mexico-agrees-to-continue-output-cut-in-line-with-opec-bnamericas.md) | -1.5% | +5.3% |
| WTI | 2023-08-08 | [No plan to change current crude production output – OPEC – Businessday NG](https://feedsoft.ai/events/34495-no-plan-to-change-current-crude-production-output-opec-businessday-ng.md) | +0.7% | +5.8% |
| BRENT | 2022-04-01 | [OPEC+ Resolves to Continue with Gradual 400,000 bpd Oil Output Hikes – Arise News](https://feedsoft.ai/events/41756-opec-resolves-to-continue-with-gradual-400-000-bpd-oil-output-hikes-arise-news.md) | -6.9% | +1.2% |
| BRENT | 2017-07-24 | [OPEC moves to cap Nigerian oil output, boost production cut compliance \| CBC News](https://feedsoft.ai/events/69865-opec-moves-to-cap-nigerian-oil-output-boost-production-cut-compliance-cbc-news.md) | +9.4% | +8.5% |
| BRENT | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -0.9% | -3.2% |

## Sources

- hindustantimes.com: https://www.hindustantimes.com/business-news/opec-russia-want-to-continue-output-curbs-on-oil-to-boost-investment/story-n7SBow16fJmGkF9irVMiBK.html

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