# OPEC’s output curb seen going past 2018 - Businessday NG

> OPEC and non-member allies including Russia and Oman may extend their 1.8 million barrels per day output cap beyond 2018, possibly as a collective production ceiling. Oil prices had risen from about $45 a barrel in June 2017 to over $70 that month.

- Date: 2018-01-21 · published 2018-01-21T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/66903-opec-s-output-curb-seen-going-past-2018-businessday-ng
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible extension of the cuts into 2019 would keep global crude supply constrained, supporting oil prices and energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-08-08 | [No plan to change current crude production output – OPEC – Businessday NG](https://feedsoft.ai/events/34495-no-plan-to-change-current-crude-production-output-opec-businessday-ng.md) | +1.0% | +4.2% |
| BRENT | 2018-04-20 | [OPEC, Russia want to continue output curbs on oil to boost investment \| Business News](https://feedsoft.ai/events/65427-opec-russia-want-to-continue-output-curbs-on-oil-to-boost-investment-business.md) | +1.0% | +7.2% |
| BRENT | 2023-02-01 | [Opec+ sticks to oil output policy after brief meeting - The Business Times](https://feedsoft.ai/events/37229-opec-sticks-to-oil-output-policy-after-brief-meeting-the-business-times.md) | -0.8% | -0.5% |
| BRENT | 2022-09-27 | [Russia seen suggesting OPEC+ cuts oil output by 1 mln bpd - source](https://feedsoft.ai/events/39761-russia-seen-suggesting-opec-cuts-oil-output-by-1-mln-bpd-source.md) | +7.8% | +10.9% |
| BRENT | 2017-09-27 | [OPEC celebrates supply cap deal compliance, analysts say not out of woods yet - BusinessDay NG, TV, and Podcast](https://feedsoft.ai/events/68872-opec-celebrates-supply-cap-deal-compliance-analysts-say-not-out-of-woods-yet.md) | -5.1% | -1.7% |
| WTI | 2023-08-08 | [No plan to change current crude production output – OPEC – Businessday NG](https://feedsoft.ai/events/34495-no-plan-to-change-current-crude-production-output-opec-businessday-ng.md) | +0.7% | +5.8% |
| WTI | 2018-04-20 | [OPEC, Russia want to continue output curbs on oil to boost investment \| Business News](https://feedsoft.ai/events/65427-opec-russia-want-to-continue-output-curbs-on-oil-to-boost-investment-business.md) | -0.2% | +4.7% |
| WTI | 2021-01-10 | [OPEC crude output cuts should help US shale profits in 2021 - Markets - Business Recorder](https://feedsoft.ai/events/49319-opec-crude-output-cuts-should-help-us-shale-profits-in-2021-markets-business.md) | +0.2% | +11.1% |

## Sources

- businessday.ng: https://businessday.ng/exclusives/article/opecs-output-curb-seen-going-past-2018/

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