# Vienna Was A Bust: What’s Next For OPEC? | OilPrice.com

> OPEC and non-OPEC producers agreed on May 25 to extend output cuts of about 1.8 million bpd by nine months to March 2018. Prices fell back below $50 WTI after the announcement, which markets had partly priced in.

- Date: 2017-05-28 · published 2017-05-28T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/71158-vienna-was-a-bust-what-s-next-for-opec-oilprice-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sustained crude output restraint supports energy prices, which firms biofuel and feed-input costs, but the market reaction shows limited upside beyond $50.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-02-27 | [Oil beyond 2018: what lies ahead for 'Super Opec' \| The National](https://feedsoft.ai/events/66430-oil-beyond-2018-what-lies-ahead-for-super-opec-the-national.md) | -2.1% | +2.6% |
| WTI | 2017-06-02 | [Saudis: OPEC May Discuss Deeper Cuts In November \| OilPrice.com](https://feedsoft.ai/events/70395-saudis-opec-may-discuss-deeper-cuts-in-november-oilprice-com.md) | -5.5% | -7.1% |
| WTI | 2018-02-13 | [OPEC Pact Exit Could Take Months Of Negotiation \| OilPrice.com](https://feedsoft.ai/events/66428-opec-pact-exit-could-take-months-of-negotiation-oilprice-com.md) | +4.3% | +2.2% |
| WTI | 2026-06-07 | [OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices](https://feedsoft.ai/events/18723-opec-to-boost-oil-output-again-what-the-latest-production-hike-means-for-the.md) | -6.1% | -25.6% |
| WTI | 2022-08-03 | [Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg](https://feedsoft.ai/events/39947-oil-prices-opec-agrees-to-raise-production-next-month-at-much-slower-pace.md) | -4.1% | -4.5% |
| BRENT | 2018-02-27 | [Oil beyond 2018: what lies ahead for 'Super Opec' \| The National](https://feedsoft.ai/events/66430-oil-beyond-2018-what-lies-ahead-for-super-opec-the-national.md) | -3.1% | +2.6% |
| BRENT | 2017-06-02 | [Saudis: OPEC May Discuss Deeper Cuts In November \| OilPrice.com](https://feedsoft.ai/events/70395-saudis-opec-may-discuss-deeper-cuts-in-november-oilprice-com.md) | -6.5% | -6.3% |
| BRENT | 2018-02-13 | [OPEC Pact Exit Could Take Months Of Negotiation \| OilPrice.com](https://feedsoft.ai/events/66428-opec-pact-exit-could-take-months-of-negotiation-oilprice-com.md) | +4.0% | +3.8% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Oil-Prices/Vienna-Was-A-Bust-Whats-Next-For-OPEC.html

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