# Opec’s meeting in Vienna: As it happened | The National

> OPEC's 172nd ordinary meeting in Vienna on 25 May 2017 confirmed a nine-month rollover of the existing cut, running to March 2018. Saudi energy minister Khalid Al Falih said inventories are expected to reach the five-year average by year-end, and the partners agreed to work on refining their framework.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70930-opec-s-meeting-in-vienna-as-it-happened-the-national
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The rollover extends supply restraint into early 2018, supporting crude prices. Analysts still expect supply to rise as new projects in the US, Brazil and the North Sea start up, which limits the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-01 | [OPEC meeting in Vienna concludes \| Hydrocarbon Engineering](https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering.md) | +0.8% | +8.8% |
| WTI | 2019-11-30 | [OPEC Oil Output Slips Before Vienna Meeting](https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting.md) | +3.6% | +8.1% |
| WTI | 2017-09-23 | [Opec and Russia say global oil glut halfway cleared \| The National](https://feedsoft.ai/events/68866-opec-and-russia-say-global-oil-glut-halfway-cleared-the-national.md) | +2.4% | +2.3% |
| WTI | 2022-01-04 | [Oil prices jump as Opec+ agrees to continue output increase in February \| The National](https://feedsoft.ai/events/43063-oil-prices-jump-as-opec-agrees-to-continue-output-increase-in-february-the.md) | +2.8% | +16.0% |
| WTI | 2018-03-29 | [Oil prices gain on expectation of continued Opec supply curbs in 2018 \| The National](https://feedsoft.ai/events/66167-oil-prices-gain-on-expectation-of-continued-opec-supply-curbs-in-2018-the.md) | -1.2% | +6.0% |
| BRENT | 2016-12-01 | [OPEC meeting in Vienna concludes \| Hydrocarbon Engineering](https://feedsoft.ai/events/73376-opec-meeting-in-vienna-concludes-hydrocarbon-engineering.md) | +6.6% | +12.9% |
| BRENT | 2019-11-30 | [OPEC Oil Output Slips Before Vienna Meeting](https://feedsoft.ai/events/56230-opec-oil-output-slips-before-vienna-meeting.md) | +3.1% | +7.7% |
| BRENT | 2017-09-23 | [Opec and Russia say global oil glut halfway cleared \| The National](https://feedsoft.ai/events/68866-opec-and-russia-say-global-oil-glut-halfway-cleared-the-national.md) | -0.4% | +0.5% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/opec-s-meeting-in-vienna-as-it-happened-1.67788

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