# The Latest: OPEC, other nations extend output cut to March | BOE Report

> OPEC and non-OPEC producers agreed on 25 May 2017 to extend their production cuts by nine months, to March 2018. The AP reported that the decision was expected to lift prices only modestly and temporarily.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/70931-the-latest-opec-other-nations-extend-output-cut-to-march-boe-report
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply restraint supports crude prices, but rising US shale output could offset the cuts if prices rise further. This limits the upside for oil-linked costs and related feed inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | -0.2% | +4.2% |
| WTI | 2017-10-18 | [OPEC reportedly favors 9-month extension to output cut deal](https://feedsoft.ai/events/68379-opec-reportedly-favors-9-month-extension-to-output-cut-deal.md) | +1.0% | +7.3% |
| WTI | 2023-06-04 | [Opec+ members agree to extend voluntary oil output cuts until end of 2024 \| The National](https://feedsoft.ai/events/35397-opec-members-agree-to-extend-voluntary-oil-output-cuts-until-end-of-2024-the.md) | -2.2% | -2.8% |
| WTI | 2024-03-04 | [Saudi Arabia and the UAE among Opec+ members extending oil output cuts \| The National](https://feedsoft.ai/events/31114-saudi-arabia-and-the-uae-among-opec-members-extending-oil-output-cuts-the.md) | -2.4% | +4.6% |
| WTI | 2024-04-01 | [OPEC+ members extend oil output cuts to second quarter](https://feedsoft.ai/events/31108-opec-members-extend-oil-output-cuts-to-second-quarter.md) | +4.5% | +1.4% |
| BRENT | 2019-02-07 | [MEED \| Opec+ agrees to extend oil output cuts till March 2020](https://feedsoft.ai/events/60521-meed-opec-agrees-to-extend-oil-output-cuts-till-march-2020.md) | +1.6% | +4.5% |
| BRENT | 2017-10-18 | [OPEC reportedly favors 9-month extension to output cut deal](https://feedsoft.ai/events/68379-opec-reportedly-favors-9-month-extension-to-output-cut-deal.md) | +0.6% | +6.6% |
| BRENT | 2023-06-04 | [Opec+ members agree to extend voluntary oil output cuts until end of 2024 \| The National](https://feedsoft.ai/events/35397-opec-members-agree-to-extend-voluntary-oil-output-cuts-until-end-of-2024-the.md) | -1.7% | -1.8% |

## Sources

- boereport.com: https://boereport.com/2017/05/25/the-latest-opec-other-nations-extend-output-cut-to-march/

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