# Can an OPEC extension push Oil to $60? :: Content :: Tập đoàn Hoá chất Việt Nam (Vinachem)

> Analysis suggests OPEC will likely agree to extend its November production cut at its May meeting. Prices have stayed near $50 for WTI, and the article questions whether an extension can push oil to the $60 level OPEC wants.

- Date: 2017-04-28 · published 2017-04-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71653-can-an-opec-extension-push-oil-to-60-content-tap-oan-hoa-chat-viet-nam-vinachem
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A likely OPEC extension would support crude prices, but the article notes that bearish inventory signals have kept prices below $50, limiting upside for energy-linked feed and biofuel costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-04-10 | [OPEC's original cut 'just missed paving the road to hell', but extension needed for oil to hit $60: Citi \| Financial Post](https://feedsoft.ai/events/71675-opec-s-original-cut-just-missed-paving-the-road-to-hell-but-extension-needed.md) | +0.7% | -11.1% |
| WTI | 2026-01-01 | [COMMENTARY: China overtakes OPEC+ as the main oil price maker](https://feedsoft.ai/events/21669-commentary-china-overtakes-opec-as-the-main-oil-price-maker.md) | +0.8% | +13.0% |
| WTI | 2025-05-26 | [Oil holds steady; market awaits clarity on OPEC+ next move](https://feedsoft.ai/events/24837-oil-holds-steady-market-awaits-clarity-on-opec-next-move.md) | +0.9% | +4.3% |
| WTI | 2022-06-08 | [Q&A \| Implications of the OPEC+ Announcement to Increase Oil Production - Center on Global Energy Policy at Columbia University SIPA \| CGEP](https://feedsoft.ai/events/40837-q-and-a-implications-of-the-opec-announcement-to-increase-oil-production-center.md) | -0.5% | -13.0% |
| WTI | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +0.5% | +7.0% |
| BRENT | 2017-04-10 | [OPEC's original cut 'just missed paving the road to hell', but extension needed for oil to hit $60: Citi \| Financial Post](https://feedsoft.ai/events/71675-opec-s-original-cut-just-missed-paving-the-road-to-hell-but-extension-needed.md) | +0.6% | -12.4% |
| BRENT | 2026-01-01 | [COMMENTARY: China overtakes OPEC+ as the main oil price maker](https://feedsoft.ai/events/21669-commentary-china-overtakes-opec-as-the-main-oil-price-maker.md) | +2.6% | +16.0% |
| BRENT | 2025-05-26 | [Oil holds steady; market awaits clarity on OPEC+ next move](https://feedsoft.ai/events/24837-oil-holds-steady-market-awaits-clarity-on-opec-next-move.md) | +0.8% | +12.0% |

## Sources

- vinachem.com.vn: https://www.vinachem.com.vn/articles/market-and-product-vnc/can-an-opec-extension-push-oil-to-60.html

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