# Leaders of the UAE, OPEC’s biggest producer Saudi Arabia and non-OPEC member Russia support extending energy cooperation beyond 2018.

> Leaders of the UAE, Saudi Arabia and Russia expressed support for extending OPEC and non-OPEC energy cooperation beyond 2018. The article notes the current production cut deal runs to the end of 2018.

- Date: 2018-04-02 · published 2018-04-02T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/65429-leaders-of-the-uae-opec-s-biggest-producer-saudi-arabia-and-non-opec-member
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A longer-term extension of the cuts would keep supply restrained over a longer horizon, which supports crude prices and the cost of energy inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -2.4% | +4.6% |
| WTI | 2018-01-21 | [Oil producers will cooperate beyond 2018, says Saudi Arabia](https://feedsoft.ai/events/66898-oil-producers-will-cooperate-beyond-2018-says-saudi-arabia.md) | +4.5% | -2.5% |
| WTI | 2024-03-03 | [Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June](https://feedsoft.ai/events/31110-saudi-arabia-russia-and-several-opec-producers-extend-voluntary-crude-supply.md) | -2.4% | +4.6% |
| WTI | 2023-09-05 | [Saudi Arabia, Russia extend oil production cuts to end of year](https://feedsoft.ai/events/34026-saudi-arabia-russia-extend-oil-production-cuts-to-end-of-year.md) | +2.1% | +3.8% |
| WTI | 2019-07-03 | [OPEC, non-OPEC members decide on extending production cuts up to March 2020, ETEnergyworld](https://feedsoft.ai/events/58010-opec-non-opec-members-decide-on-extending-production-cuts-up-to-march-2020.md) | +7.6% | +4.4% |
| BRENT | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -1.2% | +3.1% |
| BRENT | 2018-01-21 | [Oil producers will cooperate beyond 2018, says Saudi Arabia](https://feedsoft.ai/events/66898-oil-producers-will-cooperate-beyond-2018-says-saudi-arabia.md) | +2.5% | -5.9% |
| BRENT | 2024-03-03 | [Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June](https://feedsoft.ai/events/31110-saudi-arabia-russia-and-several-opec-producers-extend-voluntary-crude-supply.md) | -1.2% | +3.1% |

## Sources

- wognews.net: https://wognews.net/news/2018/4/opec-cooperation

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