# OPEC and non-OPEC members agree to extend production cuts for nine months

> OPEC and non-OPEC producers agreed on 25 May 2017 to extend their 1.8 million barrel-per-day output cut by nine months, to March 2018. Brent and WTI fell about 4% on the day because the cut was not deepened.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/70928-opec-and-non-opec-members-agree-to-extend-production-cuts-for-nine-months
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The extension keeps about 2% of world supply off the market, which supports prices over the medium term. The market reaction shows traders had priced in the decision and wanted deeper cuts, so the price effect was bearish on the day.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +1.7% | +0.1% |
| WTI | 2025-07-05 | [OPEC+ members agree to larger-than-expected oil production hike in August](https://feedsoft.ai/events/23671-opec-members-agree-to-larger-than-expected-oil-production-hike-in-august.md) | +2.4% | +0.7% |
| WTI | 2017-05-25 | [Opec, non-Opec producers roll over output restraint deal for nine months to curb glut \| The National](https://feedsoft.ai/events/70929-opec-non-opec-producers-roll-over-output-restraint-deal-for-nine-months-to-curb.md) | -5.4% | -16.7% |
| WTI | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.7% |
| WTI | 2022-07-18 | [OPEC+ Agrees to 100,000 bpd Oil Production Increase for September](https://feedsoft.ai/events/40406-opec-agrees-to-100-000-bpd-oil-production-increase-for-september.md) | -2.2% | -5.0% |
| BRENT | 2025-10-03 | [OPEC+ agrees to modest oil production increase for November](https://feedsoft.ai/events/22305-opec-agrees-to-modest-oil-production-increase-for-november.md) | +2.2% | +0.4% |
| BRENT | 2025-07-05 | [OPEC+ members agree to larger-than-expected oil production hike in August](https://feedsoft.ai/events/23671-opec-members-agree-to-larger-than-expected-oil-production-hike-in-august.md) | +2.2% | +0.7% |
| BRENT | 2017-05-25 | [Opec, non-Opec producers roll over output restraint deal for nine months to curb glut \| The National](https://feedsoft.ai/events/70929-opec-non-opec-producers-roll-over-output-restraint-deal-for-nine-months-to-curb.md) | -7.0% | -16.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/05/25/opec-agrees-to-extend-oil-production-cuts-for-nine-months-delegate-tells-reuters.html

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