# Opec, non-Opec producers roll over output restraint deal for nine months to curb glut | The National

> OPEC and non-OPEC partners agreed on 25 May 2017 to roll over their output restraint for nine months, with Equatorial Guinea moving into the OPEC category. Brent crude dropped nearly 4.5% to about $51.57 after the announcement, as the cuts were not deepened.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/70929-opec-non-opec-producers-roll-over-output-restraint-deal-for-nine-months-to-curb
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The rollover aims to draw down the global inventory glut to the five-year average by year-end, which supports crude prices. Markets had expected deeper cuts, so the immediate price response was negative.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-05-25 | [OPEC and non-OPEC members agree to extend production cuts for nine months](https://feedsoft.ai/events/70928-opec-and-non-opec-members-agree-to-extend-production-cuts-for-nine-months.md) | -7.0% | -16.6% |
| BRENT | 2020-08-01 | [What to expect as Opec+ tapers its historic output deal \| The National](https://feedsoft.ai/events/51540-what-to-expect-as-opec-tapers-its-historic-output-deal-the-national.md) | +2.4% | +4.4% |
| BRENT | 2025-05-31 | [Opec+ decided on July output hike to punish over-producers \| AGBI](https://feedsoft.ai/events/24131-opec-decided-on-july-output-hike-to-punish-over-producers-agbi.md) | +4.9% | +7.0% |
| BRENT | 2025-09-07 | [Opec+ agrees another rise in oil output for October \| The National](https://feedsoft.ai/events/22772-opec-agrees-another-rise-in-oil-output-for-october-the-national.md) | +3.4% | +0.2% |
| BRENT | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -11.9% | -6.8% |
| WTI | 2017-05-25 | [OPEC and non-OPEC members agree to extend production cuts for nine months](https://feedsoft.ai/events/70928-opec-and-non-opec-members-agree-to-extend-production-cuts-for-nine-months.md) | -5.4% | -16.7% |
| WTI | 2020-08-01 | [What to expect as Opec+ tapers its historic output deal \| The National](https://feedsoft.ai/events/51540-what-to-expect-as-opec-tapers-its-historic-output-deal-the-national.md) | +2.5% | +7.0% |
| WTI | 2025-05-31 | [Opec+ decided on July output hike to punish over-producers \| AGBI](https://feedsoft.ai/events/24131-opec-decided-on-july-output-hike-to-punish-over-producers-agbi.md) | +6.2% | +7.6% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/opec-non-opec-producers-roll-over-output-restraint-deal-for-nine-months-to-curb-glut-1.4495

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