# World’s crude oil producers extend cuts on output through 2018

> OPEC and allied producers agreed in Vienna to extend crude output cuts until the end of 2018. The group said it stands ready to revisit the move if higher prices bring US shale operators back into the market, and US crude traded at $57.08 a barrel that day.

- Date: 2017-12-01 · published 2017-12-01T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/67411-world-s-crude-oil-producers-extend-cuts-on-output-through-2018
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Keeping cuts in place supports prices and energy costs, but the stated readiness to respond to shale growth caps the upside for crude.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-11-30 | [Opec and Russia extend deal to cut oil production through 2018](https://feedsoft.ai/events/67410-opec-and-russia-extend-deal-to-cut-oil-production-through-2018.md) | -2.5% | +4.5% |
| WTI | 2024-12-05 | [Explainer: How are OPEC+ oil producers unwinding their output cuts?](https://feedsoft.ai/events/26875-explainer-how-are-opec-oil-producers-unwinding-their-output-cuts.md) | +2.6% | +8.3% |
| WTI | 2020-06-06 | [OPEC+ extends output cuts through July and cracks down on cheats \| OPEC \| Al Jazeera](https://feedsoft.ai/events/52513-opec-extends-output-cuts-through-july-and-cracks-down-on-cheats-opec-al-jazeera.md) | -8.3% | +2.6% |
| WTI | 2024-04-01 | [OPEC+ members extend oil output cuts to second quarter](https://feedsoft.ai/events/31108-opec-members-extend-oil-output-cuts-to-second-quarter.md) | +4.5% | +1.4% |
| WTI | 2024-05-02 | [Oil alliance OPEC+ extends collective crude production cuts into 2025](https://feedsoft.ai/events/29653-oil-alliance-opec-extends-collective-crude-production-cuts-into-2025.md) | -0.1% | -1.9% |
| BRENT | 2017-11-30 | [Opec and Russia extend deal to cut oil production through 2018](https://feedsoft.ai/events/67410-opec-and-russia-extend-deal-to-cut-oil-production-through-2018.md) | -2.7% | +5.3% |
| BRENT | 2024-12-05 | [Explainer: How are OPEC+ oil producers unwinding their output cuts?](https://feedsoft.ai/events/26875-explainer-how-are-opec-oil-producers-unwinding-their-output-cuts.md) | +0.6% | +4.3% |
| BRENT | 2020-06-06 | [OPEC+ extends output cuts through July and cracks down on cheats \| OPEC \| Al Jazeera](https://feedsoft.ai/events/52513-opec-extends-output-cuts-through-july-and-cracks-down-on-cheats-opec-al-jazeera.md) | -7.2% | +3.3% |

## Sources

- pressherald.com: https://www.pressherald.com/2017/11/30/worlds-crude-oil-producers-extend-cuts-on-output-through-2018/

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