# Syria, OPEC, and Oil Prices

> Citi Research says Brent could rise above $60 this year if producers extend their output agreement through year-end. The report notes that the original OPEC-plus-non-OPEC cut was offset by higher output from rival producers, and that North American firms hedged production at higher prices.

- Date: 2017-04-12 · published 2017-04-12T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71674-syria-opec-and-oil-prices
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

An extension of the output deal would tighten crude balances and support energy costs, while failure to extend would keep prices pressured.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-12-23 | [Freight boom fuels shipping and oil prices](https://feedsoft.ai/events/49840-freight-boom-fuels-shipping-and-oil-prices.md) | +2.1% | +11.8% |
| BRENT | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.1% | +5.2% |
| BRENT | 2024-12-24 | [Oil prices up on US growth data](https://feedsoft.ai/events/27128-oil-prices-up-on-us-growth-data.md) | +3.1% | +9.8% |
| BRENT | 2022-12-16 | [Rising oil prices and import rates to India are supporting vegetable oil quotes](https://feedsoft.ai/events/38344-rising-oil-prices-and-import-rates-to-india-are-supporting-vegetable-oil-quotes.md) | -1.8% | +2.7% |
| BRENT | 2026-09-28 | [Rand weakens as oil prices rise and rate-hike fears support dollar](https://feedsoft.ai/events/17765-rand-weakens-as-oil-prices-rise-and-rate-hike-fears-support-dollar.md) | +6.5% | +1.3% |
| WTI | 2020-12-23 | [Freight boom fuels shipping and oil prices](https://feedsoft.ai/events/49840-freight-boom-fuels-shipping-and-oil-prices.md) | +2.7% | +11.2% |
| WTI | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.6% | +5.2% |
| WTI | 2024-12-24 | [Oil prices up on US growth data](https://feedsoft.ai/events/27128-oil-prices-up-on-us-growth-data.md) | +4.0% | +7.9% |

## Sources

- csis.org: https://www.csis.org/analysis/syria-opec-and-oil-prices

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