# Arab News | Middle East OPEC producers fret oil price rally may burn out

> Middle East OPEC producers are concerned that weak demand and excess supply in early 2018 could undermine the oil price rally. Brent has risen about 30 percent since June, helped by supply cuts and Hurricane Harvey's refinery outages.

- Date: 2017-09-29 · published 2017-09-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69122-arab-news-middle-east-opec-producers-fret-oil-price-rally-may-burn-out
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of a 2018 supply glut could cap energy prices, which in turn limits cost pressure on freight, fertilizer and biofuel margins.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-09-10 | [Arab News \| OPEC may cut demand forecast; US and China release oil from strategic reserves: Market wrap](https://feedsoft.ai/events/45237-arab-news-opec-may-cut-demand-forecast-us-and-china-release-oil-from-strategic.md) | +5.6% | +15.1% |
| BRENT | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.1% | -0.6% |
| BRENT | 2025-07-07 | [Oil prices up; strong demand outweighs surprisingly big OPEC+ output hike \| Reuters](https://feedsoft.ai/events/23929-oil-prices-up-strong-demand-outweighs-surprisingly-big-opec-output-hike-reuters.md) | +2.2% | +0.7% |
| BRENT | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +1.7% | +7.3% |
| BRENT | 2026-01-01 | [COMMENTARY: China overtakes OPEC+ as the main oil price maker](https://feedsoft.ai/events/21669-commentary-china-overtakes-opec-as-the-main-oil-price-maker.md) | +2.6% | +16.0% |
| WTI | 2021-09-10 | [Arab News \| OPEC may cut demand forecast; US and China release oil from strategic reserves: Market wrap](https://feedsoft.ai/events/45237-arab-news-opec-may-cut-demand-forecast-us-and-china-release-oil-from-strategic.md) | +6.5% | +14.9% |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |
| WTI | 2025-07-07 | [Oil prices up; strong demand outweighs surprisingly big OPEC+ output hike \| Reuters](https://feedsoft.ai/events/23929-oil-prices-up-strong-demand-outweighs-surprisingly-big-opec-output-hike-reuters.md) | +2.4% | +0.7% |

## Sources

- arabnews.com: https://www.arabnews.com/business/middle-east-opec-producers-fret-oil-price-rally-may-burn-out-1169441

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