# US crude rises 0.5% to settle at $54.15 a barrel on expected output cut extension

> US WTI crude settled up 0.5 percent at $54.15 a barrel and Brent traded near $60.84, close to its highest since July 2015. Prices rose on expectations that OPEC-led production cuts would be extended beyond March, although rising Iraqi exports limited gains.

- Date: 2017-10-30 · published 2017-10-30T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/68380-us-crude-rises-0-5-to-settle-at-54-15-a-barrel-on-expected-output-cut-extension
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Firmer crude prices lift the cost of diesel and freight, while expectations of extended cuts support energy-linked input costs for feed.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-22 | [Oil rises nearly 1 percent as OPEC defers extension of output cuts](https://feedsoft.ai/events/69123-oil-rises-nearly-1-percent-as-opec-defers-extension-of-output-cuts.md) | +2.0% | +1.4% |
| WTI | 2017-10-18 | [OPEC reportedly favors 9-month extension to output cut deal](https://feedsoft.ai/events/68379-opec-reportedly-favors-9-month-extension-to-output-cut-deal.md) | +1.0% | +7.3% |
| WTI | 2016-11-30 | [US crude settles up 9.3 percent after OPEC finalizes output cut deal](https://feedsoft.ai/events/8569-us-crude-settles-up-9-3-percent-after-opec-finalizes-output-cut-deal.md) | +12.5% | +19.3% |
| WTI | 2023-11-30 | [Riyadh to extend 1 million-barrel-per-day cut as OPEC+ holds policy](https://feedsoft.ai/events/33084-riyadh-to-extend-1-million-barrel-per-day-cut-as-opec-holds-policy.md) | -11.0% | -7.4% |
| WTI | 2023-04-03 | [Brent crude jumps $5/bbl after output cuts; stocks rise](https://feedsoft.ai/events/7949-brent-crude-jumps-5-bbl-after-output-cuts-stocks-rise.md) | +5.4% | -0.0% |
| BRENT | 2017-09-22 | [Oil rises nearly 1 percent as OPEC defers extension of output cuts](https://feedsoft.ai/events/69123-oil-rises-nearly-1-percent-as-opec-defers-extension-of-output-cuts.md) | +1.8% | +0.8% |
| BRENT | 2017-10-18 | [OPEC reportedly favors 9-month extension to output cut deal](https://feedsoft.ai/events/68379-opec-reportedly-favors-9-month-extension-to-output-cut-deal.md) | +0.6% | +6.6% |
| BRENT | 2016-11-30 | [US crude settles up 9.3 percent after OPEC finalizes output cut deal](https://feedsoft.ai/events/8569-us-crude-settles-up-9-3-percent-after-opec-finalizes-output-cut-deal.md) | +16.7% | +22.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/10/29/oil-markets-focus-on-expected-extension-of-production-cuts.html

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