# Oil prices gain on expectation of continued Opec supply curbs in 2018 | The National

> Oil prices rose as OPEC and non-OPEC allies led by Russia signaled they will keep their output cuts through 2018. Brent was near $70 and WTI near $65 per barrel, but both were held back by rising US crude inventories and record US production.

- Date: 2018-03-29 · published 2018-03-29T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/66167-oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-the
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Continued supply restraint supports crude prices, which feed into diesel and freight costs for feed producers. Rising US output and inventories cap the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +2.8% | +16.0% |
| WTI | 2019-06-30 | [Oil prices edge up on hopes of supply cuts extension by OPEC](https://feedsoft.ai/events/58762-oil-prices-edge-up-on-hopes-of-supply-cuts-extension-by-opec.md) | -1.4% | -2.5% |
| WTI | 2025-04-01 | [Oil prices rise for second consecutive week on expected tighter supply](https://feedsoft.ai/events/25750-oil-prices-rise-for-second-consecutive-week-on-expected-tighter-supply.md) | -15.1% | -14.5% |
| WTI | 2023-10-04 | [Opec+ sticks to current output policy after oil price rally \| The National](https://feedsoft.ai/events/33522-opec-sticks-to-current-output-policy-after-oil-price-rally-the-national.md) | -3.7% | -8.8% |
| WTI | 2018-12-03 | [Oil Prices Rise on Expectations for a Production Cut](https://feedsoft.ai/events/10625-oil-prices-rise-on-expectations-for-a-production-cut.md) | +3.7% | -11.0% |
| BRENT | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +3.3% | +16.7% |
| BRENT | 2019-06-30 | [Oil prices edge up on hopes of supply cuts extension by OPEC](https://feedsoft.ai/events/58762-oil-prices-edge-up-on-hopes-of-supply-cuts-extension-by-opec.md) | -4.2% | -6.1% |
| BRENT | 2025-04-01 | [Oil prices rise for second consecutive week on expected tighter supply](https://feedsoft.ai/events/25750-oil-prices-rise-for-second-consecutive-week-on-expected-tighter-supply.md) | -14.2% | -15.6% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-1.716964

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