# North Sea Oil Floods to Asia Like Never Before on OPEC Cuts – The Energy Bulletin Daily

> A CSIS newsletter reports that the US missile strike on a Syrian air base raised geopolitical risk and pushed Brent above $56, a five-week high. It adds that OPEC will meet in late May to decide whether to extend its supply cuts.

- Date: 2017-04-26 · published 2017-04-26T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/71673-north-sea-oil-floods-to-asia-like-never-before-on-opec-cuts-the-energy-bulletin
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Geopolitical risk premiums and the OPEC extension decision both bear on crude prices, which influence diesel, natural gas and freight costs for feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-02-01 | [Oil prices stabilise as Russia joins OPEC in production cut - Offshore Energy](https://feedsoft.ai/events/72669-oil-prices-stabilise-as-russia-joins-opec-in-production-cut-offshore-energy.md) | -1.9% | -1.8% |
| BRENT | 2020-11-30 | [OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR](https://feedsoft.ai/events/50061-opec-meets-to-decide-whether-cuts-in-oil-production-are-still-needed-npr.md) | +3.5% | +7.0% |
| BRENT | 2019-02-11 | [Sanctions, OPEC cuts push Asia's sour crude oil prices above Brent - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60780-sanctions-opec-cuts-push-asia-s-sour-crude-oil-prices-above-brent-energy-news.md) | +6.8% | +6.4% |
| BRENT | 2020-11-29 | [OPEC+ Heads to Crucial Talks Seeking Compromise on Oil Cuts - Bloomberg](https://feedsoft.ai/events/50058-opec-heads-to-crucial-talks-seeking-compromise-on-oil-cuts-bloomberg.md) | +3.5% | +7.0% |
| BRENT | 2020-06-08 | [Oil prices top $40 as OPEC+ extends production cuts \| Fox Business](https://feedsoft.ai/events/52796-oil-prices-top-40-as-opec-extends-production-cuts-fox-business.md) | -7.2% | +3.3% |
| WTI | 2017-02-01 | [Oil prices stabilise as Russia joins OPEC in production cut - Offshore Energy](https://feedsoft.ai/events/72669-oil-prices-stabilise-as-russia-joins-opec-in-production-cut-offshore-energy.md) | -1.1% | +2.0% |
| WTI | 2020-11-30 | [OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR](https://feedsoft.ai/events/50061-opec-meets-to-decide-whether-cuts-in-oil-production-are-still-needed-npr.md) | +1.5% | +4.3% |
| WTI | 2020-11-29 | [OPEC+ Heads to Crucial Talks Seeking Compromise on Oil Cuts - Bloomberg](https://feedsoft.ai/events/50058-opec-heads-to-crucial-talks-seeking-compromise-on-oil-cuts-bloomberg.md) | +1.5% | +4.3% |

## Sources

- daily.energybulletin.org: https://daily.energybulletin.org/2017/04/north-sea-oil-floods-to-asia-like-never-before-on-opec-cuts/

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