# OPEC said to work on exit strategy alongside cuts extension

> OPEC is reportedly working on an exit strategy to phase out its production cuts gradually, alongside negotiations to extend the cuts to the end of 2018. The group is likely to endorse the outline at its November 30 meeting in Vienna, with full details expected later in 2018.

- Date: 2017-10-24 · published 2017-10-24T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/68378-opec-said-to-work-on-exit-strategy-alongside-cuts-extension
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A gradual exit plan would reduce the risk of a sudden surge in supply when the cuts end, which limits downside risk to crude prices over the longer term.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-12-01 | [For How Long Will OPEC Extend Production Cuts?](https://feedsoft.ai/events/68171-for-how-long-will-opec-extend-production-cuts.md) | -2.0% | +4.9% |
| BRENT | 2018-03-05 | [Opec to Mull Exit Strategies for Output Deal \| Energy Intelligence](https://feedsoft.ai/events/65932-opec-to-mull-exit-strategies-for-output-deal-energy-intelligence.md) | +1.6% | +6.2% |
| BRENT | 2017-06-03 | [Opec in dilemma over output cut extension: QNB \| The Peninsula Qatar](https://feedsoft.ai/events/70396-opec-in-dilemma-over-output-cut-extension-qnb-the-peninsula-qatar.md) | -3.7% | -3.5% |
| BRENT | 2025-01-29 | [Kazakhstan to decide on oil output cuts after OPEC+ meeting \| Reuters](https://feedsoft.ai/events/26426-kazakhstan-to-decide-on-oil-output-cuts-after-opec-meeting-reuters.md) | -1.7% | -6.0% |
| BRENT | 2019-05-01 | [Oil prices mixed as talk of extending OPEC cuts faces rising U.S. supply](https://feedsoft.ai/events/59238-oil-prices-mixed-as-talk-of-extending-opec-cuts-faces-rising-u-s-supply.md) | -2.9% | -3.4% |
| WTI | 2017-12-01 | [For How Long Will OPEC Extend Production Cuts?](https://feedsoft.ai/events/68171-for-how-long-will-opec-extend-production-cuts.md) | -1.5% | +5.3% |
| WTI | 2017-06-03 | [Opec in dilemma over output cut extension: QNB \| The Peninsula Qatar](https://feedsoft.ai/events/70396-opec-in-dilemma-over-output-cut-extension-qnb-the-peninsula-qatar.md) | -3.9% | -3.5% |
| WTI | 2025-01-29 | [Kazakhstan to decide on oil output cuts after OPEC+ meeting \| Reuters](https://feedsoft.ai/events/26426-kazakhstan-to-decide-on-oil-output-cuts-after-opec-meeting-reuters.md) | -1.5% | -7.1% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2017/10/24/opec-said-to-work-on-exit-strategy-alongside-cuts-extension

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