# Oil rises nearly 1 percent as OPEC defers extension of output cuts

> Oil settled nearly 1 percent higher after OPEC and other producers said a decision on extending output cuts could wait until November or January. Nigeria said it was pumping below its agreed cap.

- Date: 2017-09-22 · published 2017-09-22T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69123-oil-rises-nearly-1-percent-as-opec-defers-extension-of-output-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Delayed decisions on output curbs leave open the possibility of supply tightening later, supporting crude and energy-linked input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-11-30 | [Oil jumps over 10 percent as OPEC finalizes output cut deal \| Reuters](https://feedsoft.ai/events/8564-oil-jumps-over-10-percent-as-opec-finalizes-output-cut-deal-reuters.md) | +12.5% | +19.3% |
| WTI | 2020-06-05 | [Oil prices spike as OPEC+ nears output cut extension, job market rallies \| Fox Business](https://feedsoft.ai/events/52786-oil-prices-spike-as-opec-nears-output-cut-extension-job-market-rallies-fox.md) | -2.7% | +8.5% |
| WTI | 2017-12-01 | [Oil near 2½-year highs after OPEC extends output cuts](https://feedsoft.ai/events/67641-oil-near-21-2-year-highs-after-opec-extends-output-cuts.md) | -1.5% | +5.3% |
| WTI | 2016-11-30 | [Oil up more than 8 percent as OPEC finalizes output cut deal](https://feedsoft.ai/events/8571-oil-up-more-than-8-percent-as-opec-finalizes-output-cut-deal.md) | +12.5% | +19.3% |
| WTI | 2022-10-01 | [Oil up nearly 3% as OPEC+ agrees to small oil output cut](https://feedsoft.ai/events/39515-oil-up-nearly-3-as-opec-agrees-to-small-oil-output-cut.md) | +16.5% | +10.2% |
| BRENT | 2016-11-30 | [Oil jumps over 10 percent as OPEC finalizes output cut deal \| Reuters](https://feedsoft.ai/events/8564-oil-jumps-over-10-percent-as-opec-finalizes-output-cut-deal-reuters.md) | +16.7% | +22.1% |
| BRENT | 2020-06-05 | [Oil prices spike as OPEC+ nears output cut extension, job market rallies \| Fox Business](https://feedsoft.ai/events/52786-oil-prices-spike-as-opec-nears-output-cut-extension-job-market-rallies-fox.md) | -2.7% | +10.1% |
| BRENT | 2017-12-01 | [Oil near 2½-year highs after OPEC extends output cuts](https://feedsoft.ai/events/67641-oil-near-21-2-year-highs-after-opec-extends-output-cuts.md) | -2.0% | +4.9% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/oil-rises-nearly-one-percent-as-opec-defers-extension-of-output-cuts-117092300047_1.html
- geo.tv: https://www.geo.tv/latest/159407-oil-rises-nearly-1-percent-as-opec-defers-extension-of-output-cuts

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