# OPEC Pact Exit Could Take Months Of Negotiation | OilPrice.com

> Russian Energy Minister Alexander Novak said exiting the OPEC output deal could take two to five months of negotiation. He said the deal's goal of cutting surplus oil is about two-thirds achieved, and Gazprom Neft suggested the pact could last into 2019.

- Date: 2018-02-13 · published 2018-02-13T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/66428-opec-pact-exit-could-take-months-of-negotiation-oilprice-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The timing of any exit determines when extra barrels could return to the market. A gradual unwinding would limit near-term price downside for crude.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-08-03 | [Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg](https://feedsoft.ai/events/39947-oil-prices-opec-agrees-to-raise-production-next-month-at-much-slower-pace.md) | -4.1% | -4.5% |
| WTI | 2025-02-27 | [OPEC+ Rethinking Oil Production Rampup After Trump Complications \| OilPrice.com](https://feedsoft.ai/events/25945-opec-rethinking-oil-production-rampup-after-trump-complications-oilprice-com.md) | -3.3% | +1.6% |
| WTI | 2017-05-28 | [Vienna Was A Bust: What’s Next For OPEC? \| OilPrice.com](https://feedsoft.ai/events/71158-vienna-was-a-bust-what-s-next-for-opec-oilprice-com.md) | -4.5% | -12.8% |
| WTI | 2017-06-05 | [OPEC negotiates oil cut with non-members \| The Economic Times](https://feedsoft.ai/events/70398-opec-negotiates-oil-cut-with-non-members-the-economic-times.md) | -3.9% | -3.5% |
| WTI | 2022-08-03 | [OPEC+ boosts oil output by slower pace than previous months \| AP News](https://feedsoft.ai/events/39948-opec-boosts-oil-output-by-slower-pace-than-previous-months-ap-news.md) | -4.1% | -4.5% |
| BRENT | 2022-08-03 | [Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg](https://feedsoft.ai/events/39947-oil-prices-opec-agrees-to-raise-production-next-month-at-much-slower-pace.md) | -3.4% | -4.0% |
| BRENT | 2025-02-27 | [OPEC+ Rethinking Oil Production Rampup After Trump Complications \| OilPrice.com](https://feedsoft.ai/events/25945-opec-rethinking-oil-production-rampup-after-trump-complications-oilprice-com.md) | -4.0% | +1.6% |
| BRENT | 2017-05-28 | [Vienna Was A Bust: What’s Next For OPEC? \| OilPrice.com](https://feedsoft.ai/events/71158-vienna-was-a-bust-what-s-next-for-opec-oilprice-com.md) | -4.5% | -12.9% |

## Sources

- oilprice.com: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Pact-Exit-Could-Take-Months-Of-Negotiation.html

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