# Oil market to OPEC: Show me the data

> OPEC and rival producers agreed in late May to renew their crude output cut of 1.8 million barrels per day until March 2018. The market is waiting for evidence that the cut is working.

- Date: 2017-06-02 · published 2017-06-02T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The extended cut supports crude prices only if compliance and inventory draws follow. Weak evidence would keep pressure on energy costs that feed into freight and processing.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +3.3% | +16.7% |
| BRENT | 2018-03-09 | [Opec+ reaffirms commitment to market stability](https://feedsoft.ai/events/65931-opec-reaffirms-commitment-to-market-stability.md) | +1.0% | +4.8% |
| BRENT | 2025-02-03 | [OPEC+ sticks to oil policy, ditches US government data](https://feedsoft.ai/events/25942-opec-sticks-to-oil-policy-ditches-us-government-data.md) | -2.9% | -3.9% |
| BRENT | 2021-05-31 | [OPEC + presents market prospects](https://feedsoft.ai/events/47015-opec-presents-market-prospects.md) | +2.4% | +7.5% |
| BRENT | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.1% | +4.6% |
| WTI | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +2.8% | +16.0% |
| WTI | 2018-03-09 | [Opec+ reaffirms commitment to market stability](https://feedsoft.ai/events/65931-opec-reaffirms-commitment-to-market-stability.md) | +1.7% | +3.2% |
| WTI | 2025-02-03 | [OPEC+ sticks to oil policy, ditches US government data](https://feedsoft.ai/events/25942-opec-sticks-to-oil-policy-ditches-us-government-data.md) | -2.1% | -5.8% |

## Sources

- reuters.com: https://www.reuters.com/article/us-oil-markets-opec-idUSKBN18T1X5/

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