# OPEC’s Easy Win Masks Tougher Oil-Market Choices Still to Come - Bloomberg

> OPEC and allied non-OPEC producers agreed at their Thursday meeting to extend existing output cuts through the end of 2018. Bloomberg describes the outcome as a no-drama success aimed at boosting prices.

- Date: 2017-12-01 · published 2017-12-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/67407-opec-s-easy-win-masks-tougher-oil-market-choices-still-to-come-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Extending roughly 1.8 million b/d of restraint through 2018 tightens the expected supply balance and supports crude prices, which feeds into energy costs for feed production and transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-08 | [Oil Bounces Back to Bull Market Fueled by OPEC Cuts, Trade Talks - Bloomberg](https://feedsoft.ai/events/11165-oil-bounces-back-to-bull-market-fueled-by-opec-cuts-trade-talks-bloomberg.md) | +4.2% | +12.9% |
| WTI | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.1% | -5.8% |
| WTI | 2021-01-05 | [Saudis Take Charge of Oil Market With Surprise Output Cut - Bloomberg](https://feedsoft.ai/events/49055-saudis-take-charge-of-oil-market-with-surprise-output-cut-bloomberg.md) | +9.8% | +15.2% |
| WTI | 2019-02-12 | [OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg](https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg.md) | +6.0% | +8.3% |
| WTI | 2019-11-28 | [OPEC+ Sends More Signals It’ll Stick With Current Oil Cuts - Bloomberg](https://feedsoft.ai/events/55951-opec-sends-more-signals-it-ll-stick-with-current-oil-cuts-bloomberg.md) | +0.5% | +6.2% |
| BRENT | 2019-01-08 | [Oil Bounces Back to Bull Market Fueled by OPEC Cuts, Trade Talks - Bloomberg](https://feedsoft.ai/events/11165-oil-bounces-back-to-bull-market-fueled-by-opec-cuts-trade-talks-bloomberg.md) | +2.9% | +9.0% |
| BRENT | 2025-02-03 | [OPEC+ Sticks to Oil Supply Plan Even as Trump Seeks Price Cut - Bloomberg](https://feedsoft.ai/events/25944-opec-sticks-to-oil-supply-plan-even-as-trump-seeks-price-cut-bloomberg.md) | -2.9% | -3.9% |
| BRENT | 2021-01-05 | [Saudis Take Charge of Oil Market With Surprise Output Cut - Bloomberg](https://feedsoft.ai/events/49055-saudis-take-charge-of-oil-market-with-surprise-output-cut-bloomberg.md) | +8.9% | +11.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-12-01/opec-s-easy-win-masks-tougher-oil-market-choices-still-to-come

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