# OPEC may extend its supply curbs further, says Al Mazrouei

> UAE Energy Minister Suhail al-Mazrouei said OPEC may need to extend its output-cut agreement beyond the first quarter of 2018, with a decision likely at the November meeting. He said the recovery in crude prices will take time and that Libyan and Nigerian output complicates rebalancing.

- Date: 2017-07-25 · published 2017-07-25T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69869-opec-may-extend-its-supply-curbs-further-says-al-mazrouei
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A possible extension of cuts signals continued supply restraint, which supports crude prices over the coming months, though the timeline is uncertain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-04-20 | [OPEC output deal likely to be extended, says Al-Falih](https://feedsoft.ai/events/71420-opec-output-deal-likely-to-be-extended-says-al-falih.md) | -2.2% | -2.8% |
| WTI | 2018-05-30 | [Oil Rallying After Report Says OPEC Keeping Supply Cuts Through 2018 - Markets Insider](https://feedsoft.ai/events/65178-oil-rallying-after-report-says-opec-keeping-supply-cuts-through-2018-markets.md) | -1.9% | +10.3% |
| WTI | 2024-02-28 | [OPEC+ Extends Oil Cuts Amid Global Supply Crunch - Energy News Africa Plus](https://feedsoft.ai/events/31861-opec-extends-oil-cuts-amid-global-supply-crunch-energy-news-africa-plus.md) | -0.9% | +3.3% |
| WTI | 2019-10-10 | [Arab News \| Deeper oil supply cut ‘an option,’ says OPEC chief](https://feedsoft.ai/events/56472-arab-news-deeper-oil-supply-cut-an-option-says-opec-chief.md) | +1.5% | +6.8% |
| WTI | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -8.8% | -5.2% |
| BRENT | 2017-04-20 | [OPEC output deal likely to be extended, says Al-Falih](https://feedsoft.ai/events/71420-opec-output-deal-likely-to-be-extended-says-al-falih.md) | -3.4% | -1.3% |
| BRENT | 2017-03-17 | [OPEC cuts make global crude supply lighter and sweeter: Kemp](https://feedsoft.ai/events/72176-opec-cuts-make-global-crude-supply-lighter-and-sweeter-kemp.md) | -1.5% | +8.4% |
| BRENT | 2018-05-30 | [Oil Rallying After Report Says OPEC Keeping Supply Cuts Through 2018 - Markets Insider](https://feedsoft.ai/events/65178-oil-rallying-after-report-says-opec-keeping-supply-cuts-through-2018-markets.md) | -1.1% | -0.0% |

## Sources

- arabianbusiness.com: https://www.arabianbusiness.com/industries/energy/377115-saudis-focus-on-oil-export-curbs-as-libya-nigeria-pump-more

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