# OPEC Considers Moving the Goalposts - Here's Where They Might Go - Bloomberg

> OPEC and Russia are close to their goal of shrinking global oil inventories after a year of production cuts. OPEC is now considering changing its inventory target, with possible new benchmarks under discussion.

- Date: 2018-02-16 · published 2018-02-16T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/66424-opec-considers-moving-the-goalposts-here-s-where-they-might-go-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A revised inventory target would signal how long output restraint lasts, affecting expectations for crude supply and prices. The outcome is uncertain, so the price effect is mainly a sentiment factor for buyers tracking energy costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-30 | [OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg](https://feedsoft.ai/events/33085-opec-production-cuts-fail-to-convince-oil-traders-amid-lack-of-detail-bloomberg.md) | -11.0% | -7.4% |
| WTI | 2022-06-30 | [OPEC+ Ratifies August Oil Production Increase, Leaving Next Move Unresolved - Bloomberg](https://feedsoft.ai/events/40835-opec-ratifies-august-oil-production-increase-leaving-next-move-unresolved.md) | -6.3% | -11.5% |
| WTI | 2022-10-31 | [OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg](https://feedsoft.ai/events/39056-opec-says-supply-surplus-was-main-reason-for-oil-production-cut-bloomberg.md) | +5.4% | -12.2% |
| WTI | 2017-08-02 | [OPEC, Saudi Arabia, and Sanctions Update: Connecting the Dots](https://feedsoft.ai/events/69363-opec-saudi-arabia-and-sanctions-update-connecting-the-dots.md) | -0.2% | -5.5% |
| WTI | 2026-01-26 | [OPEC+ Likely to Stick With Supply Pause in March, Delegates Say - Bloomberg](https://feedsoft.ai/events/20970-opec-likely-to-stick-with-supply-pause-in-march-delegates-say-bloomberg.md) | +6.4% | +9.1% |
| BRENT | 2023-12-01 | [Skepticism and Confusion: What Analysts Say About the OPEC+ Cuts - Bloomberg](https://feedsoft.ai/events/32907-skepticism-and-confusion-what-analysts-say-about-the-opec-cuts-bloomberg.md) | -9.9% | -6.0% |
| BRENT | 2023-11-30 | [OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg](https://feedsoft.ai/events/33085-opec-production-cuts-fail-to-convince-oil-traders-amid-lack-of-detail-bloomberg.md) | -10.5% | -5.2% |
| BRENT | 2022-06-30 | [OPEC+ Ratifies August Oil Production Increase, Leaving Next Move Unresolved - Bloomberg](https://feedsoft.ai/events/40835-opec-ratifies-august-oil-production-increase-leaving-next-move-unresolved.md) | -11.8% | -8.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-02-16/opec-considers-moving-the-goalposts-here-s-where-they-might-go

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