# OPEC Holds Production Steady as Compliance Exceeds Promised Cuts - Bloomberg

> OPEC crude production held steady in December 2017 at about 32.47 million barrels per day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. The group approached 2018 with output curbs in full compliance with its supply deal.

- Date: 2018-01-03 · published 2018-01-03T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/66897-opec-holds-production-steady-as-compliance-exceeds-promised-cuts-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Steady OPEC output with full compliance keeps supply tight relative to demand, which offers mild support to crude prices heading into 2018.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-11-01 | [OPEC Oil Production Steady Last Month After Group Pledged Symbolic Cut - Bloomberg](https://feedsoft.ai/events/38588-opec-oil-production-steady-last-month-after-group-pledged-symbolic-cut-bloomberg.md) | +5.1% | -11.4% |
| BRENT | 2017-08-10 | [OPEC Boosts Oil-Demand Outlook While Its Production Rises - Bloomberg](https://feedsoft.ai/events/69362-opec-boosts-oil-demand-outlook-while-its-production-rises-bloomberg.md) | -4.0% | +3.6% |
| BRENT | 2024-01-03 | [OPEC’s Crude Oil Output Steady in December Before New Supply Cuts - Bloomberg](https://feedsoft.ai/events/32039-opec-s-crude-oil-output-steady-in-december-before-new-supply-cuts-bloomberg.md) | +2.3% | +9.8% |
| BRENT | 2020-02-25 | [Where OPEC+ Oil Production Stands Now](https://feedsoft.ai/events/54527-where-opec-oil-production-stands-now.md) | -7.6% | -55.2% |
| BRENT | 2018-01-31 | [Oil rebounds, ends up on gasoline demand, OPEC compliance](https://feedsoft.ai/events/67146-oil-rebounds-ends-up-on-gasoline-demand-opec-compliance.md) | -2.3% | -1.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-01-03/opec-holds-production-steady-as-compliance-exceeds-promised-cuts

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