# Is An Extension Of OPEC's Oil Production Cuts Really A Done Deal? | Investing.com

> An Investing.com analysis says most signals point to OPEC extending its production cut at the May 25 meeting for at least three more months. It notes that a failed extension could cause oil prices to drop significantly, while an extension would likely lift prices and stabilize them in the low $50 range.

- Date: 2017-04-26 · published 2017-04-26T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/71417-is-an-extension-of-opec-s-oil-production-cuts-really-a-done-deal-investing-com
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The extension decision is the main swing factor for crude prices in the coming weeks, and crude feeds into diesel, fertilizer and freight costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.3% | +4.3% |
| BRENT | 2019-06-30 | [Despite Iran Sanctions, Gulf Tensions OPEC+ Agree To Extend Oil Production Cuts](https://feedsoft.ai/events/58529-despite-iran-sanctions-gulf-tensions-opec-agree-to-extend-oil-production-cuts.md) | -4.2% | -6.1% |
| BRENT | 2017-11-30 | [Opec and Russia extend deal to cut oil production through 2018](https://feedsoft.ai/events/67410-opec-and-russia-extend-deal-to-cut-oil-production-through-2018.md) | -2.7% | +5.3% |
| BRENT | 2024-02-05 | [OPEC+ to decide on extending oil production cuts into Q2 2024 in March](https://feedsoft.ai/events/31564-opec-to-decide-on-extending-oil-production-cuts-into-q2-2024-in-march.md) | +5.7% | +7.3% |
| BRENT | 2024-05-24 | [OPEC+ shifts meeting online as officials anticipate extending oil production cuts](https://feedsoft.ai/events/30159-opec-shifts-meeting-online-as-officials-anticipate-extending-oil-production-cuts.md) | +0.3% | +6.9% |
| WTI | 2020-07-01 | [Opec and allies extend oil production cuts to end of July](https://feedsoft.ai/events/52516-opec-and-allies-extend-oil-production-cuts-to-end-of-july.md) | +4.2% | +4.9% |
| WTI | 2019-06-30 | [Despite Iran Sanctions, Gulf Tensions OPEC+ Agree To Extend Oil Production Cuts](https://feedsoft.ai/events/58529-despite-iran-sanctions-gulf-tensions-opec-agree-to-extend-oil-production-cuts.md) | -1.4% | -2.5% |
| WTI | 2017-11-30 | [Opec and Russia extend deal to cut oil production through 2018](https://feedsoft.ai/events/67410-opec-and-russia-extend-deal-to-cut-oil-production-through-2018.md) | -2.5% | +4.5% |

## Sources

- investing.com: https://www.investing.com/analysis/is-an-extension-of-the-oil-production-cuts-really-a-done-deal-200185186

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