# OPEC decision stabilizes oil prices, but for how long? | CBC News

> OPEC and non-OPEC members extended their oil production cuts for nine months on 25 May 2017, which steadied oil prices. Analysts differ on whether prices will rise or fall after March 2018, and Alberta producers are watching the outcome closely.

- Date: 2017-05-26 · published 2017-05-26T12:00:00.000Z
- Category: policy · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/70934-opec-decision-stabilizes-oil-prices-but-for-how-long-cbc-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The extension supports prices through the rest of 2017, which helps Canadian producers and related energy costs. Analysts warn that supply may recover in early 2018, which could push prices down again.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-10-10 | [Oil prices rise as OPEC pledges decision on supply \| Financial Post](https://feedsoft.ai/events/56468-oil-prices-rise-as-opec-pledges-decision-on-supply-financial-post.md) | +1.5% | +6.8% |
| WTI | 2022-02-02 | [Caution from OPEC+ producers to keep oil prices high \| AP News](https://feedsoft.ai/events/42630-caution-from-opec-producers-to-keep-oil-prices-high-ap-news.md) | +1.3% | +25.5% |
| WTI | 2021-01-06 | [Fitch assesses OPEC + decision for oil market \| Report.az](https://feedsoft.ai/events/49059-fitch-assesses-opec-decision-for-oil-market-report-az.md) | +6.6% | +11.7% |
| WTI | 2019-06-30 | [Oil prices edge up on hopes of supply cuts extension by OPEC](https://feedsoft.ai/events/58762-oil-prices-edge-up-on-hopes-of-supply-cuts-extension-by-opec.md) | -1.4% | -2.5% |
| WTI | 2016-11-30 | [OPEC Production Cut: What It Really Means for Oil Prices \| Fortune](https://feedsoft.ai/events/74026-opec-production-cut-what-it-really-means-for-oil-prices-fortune.md) | +12.5% | +19.3% |
| BRENT | 2019-10-10 | [Oil prices rise as OPEC pledges decision on supply \| Financial Post](https://feedsoft.ai/events/56468-oil-prices-rise-as-opec-pledges-decision-on-supply-financial-post.md) | +0.6% | +4.9% |
| BRENT | 2022-02-02 | [Caution from OPEC+ producers to keep oil prices high \| AP News](https://feedsoft.ai/events/42630-caution-from-opec-producers-to-keep-oil-prices-high-ap-news.md) | +4.1% | +20.3% |
| BRENT | 2021-01-06 | [Fitch assesses OPEC + decision for oil market \| Report.az](https://feedsoft.ai/events/49059-fitch-assesses-opec-decision-for-oil-market-report-az.md) | +5.4% | +7.8% |

## Sources

- cbc.ca: https://www.cbc.ca/news/business/opec-dwarkin-oilpatch-1.4130323

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