# Why the crude rally has fizzled, continued: Market analysis series

> S&P Global's market analysis series examines why crude oil prices have failed to rally despite OPEC-led supply cuts. It cites Platts RigData showing 280 active Permian horizontal rigs, about 40% of US horizontal drilling, and analysts calling for $60/b by year-end.

- Date: 2017-04-21 · published 2017-04-21T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71649-why-the-crude-rally-has-fizzled-continued-market-analysis-series
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising US shale drilling offsets OPEC cuts, capping crude upside and weighing on energy-linked feed costs. Bearish pressure on crude tends to lower biofuel-linked demand for vegetable oils and corn.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-06-01 | [Corn, Wheat Continue to Fall with Crude Oil: Soybeans and Cattle Rally](https://feedsoft.ai/events/19274-corn-wheat-continue-to-fall-with-crude-oil-soybeans-and-cattle-rally.md) | +3.5% | -20.5% |
| WTI | 2020-03-10 | [Fear in the Market Drives Dow and Crude Oil Lower, Drags Ag Markets Along \| Hoosier Ag Today](https://feedsoft.ai/events/11271-fear-in-the-market-drives-dow-and-crude-oil-lower-drags-ag-markets-along.md) | -7.1% | -15.8% |
| WTI | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | +3.9% | +9.9% |
| WTI | 2018-12-24 | [US crude falls below $43 a barrel as stock market sinks](https://feedsoft.ai/events/8703-us-crude-falls-below-43-a-barrel-as-stock-market-sinks.md) | -0.5% | +15.7% |
| WTI | 2020-06-11 | [Oil drops more than 8% as fears over second wave of coronavirus cases hit the market](https://feedsoft.ai/events/52783-oil-drops-more-than-8-as-fears-over-second-wave-of-coronavirus-cases-hit-the.md) | -4.1% | +0.2% |
| BRENT | 2019-09-27 | [Rupee rallies to nearly 2-month high as crude subsides \| Rupee rallies to nearly 2-month high as crude subsides](https://feedsoft.ai/events/57382-rupee-rallies-to-nearly-2-month-high-as-crude-subsides-rupee-rallies-to-nearly.md) | -7.3% | -1.2% |
| BRENT | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -18.6% | -21.4% |
| BRENT | 2021-08-27 | [The Commodities Feed: USD holds the market back \| snaps \| ING THINK](https://feedsoft.ai/events/45481-the-commodities-feed-usd-holds-the-market-back-snaps-ing-think.md) | +3.6% | +8.6% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/blog/crude-oil/042117-why-the-crude-rally-has-fizzled-continued-market-analysis-series

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