# OPEC's original cut 'just missed paving the road to hell', but extension needed for oil to hit $60: Citi | Financial Post

> Marketplace interviews energy analyst Robert McNally about his book on boom-bust oil cycles. He argues that oil supply and demand respond weakly to price, so imbalances produce sharp swings. The discussion follows a government forecast of the largest US production increase in two years.

- Date: 2017-04-10 · published 2017-04-10T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71675-opec-s-original-cut-just-missed-paving-the-road-to-hell-but-extension-needed
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Persistent crude volatility transmits into energy, freight and fertilizer costs for feed producers, so buyers should expect continued price swings rather than stable input costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-29 | [ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate \| Financial Post](https://feedsoft.ai/events/18262-ing-says-dollar-to-take-cue-from-oil-prices-if-fed-holds-rate-financial-post.md) | -4.4% | +3.8% |
| WTI | 2017-04-28 | [Can an OPEC extension push Oil to $60? :: Content :: Tập đoàn Hoá chất Việt Nam (Vinachem)](https://feedsoft.ai/events/71653-can-an-opec-extension-push-oil-to-60-content-tap-oan-hoa-chat-viet-nam-vinachem.md) | -7.0% | -0.6% |
| WTI | 2019-07-31 | [Posthaste: Some oilsands mines breakeven at $10, S&P cuts Canadian GDP forecast and why the Fed is cutting rates - Financial Post](https://feedsoft.ai/events/58340-posthaste-some-oilsands-mines-breakeven-at-10-s-and-p-cuts-canadian-gdp.md) | -7.6% | -5.3% |
| WTI | 2025-07-27 | [Oil Caught Between a $70 Summer and Growing Surplus Fears \| Financial Post](https://feedsoft.ai/events/23926-oil-caught-between-a-70-summer-and-growing-surplus-fears-financial-post.md) | +3.1% | -3.1% |
| WTI | 2018-03-30 | [Exclusive: China taking first steps to pay for oil in yuan this year - sources](https://feedsoft.ai/events/66215-exclusive-china-taking-first-steps-to-pay-for-oil-in-yuan-this-year-sources.md) | -4.4% | +5.0% |
| BRENT | 2020-09-30 | [Europe's Oil Refineries Struggling to Cope With Diesel Glut \| Financial Post](https://feedsoft.ai/events/51273-europe-s-oil-refineries-struggling-to-cope-with-diesel-glut-financial-post.md) | +3.1% | -0.6% |
| BRENT | 2017-04-28 | [Can an OPEC extension push Oil to $60? :: Content :: Tập đoàn Hoá chất Việt Nam (Vinachem)](https://feedsoft.ai/events/71653-can-an-opec-extension-push-oil-to-60-content-tap-oan-hoa-chat-viet-nam-vinachem.md) | -4.9% | +2.8% |
| BRENT | 2025-07-27 | [Oil Caught Between a $70 Summer and Growing Surplus Fears \| Financial Post](https://feedsoft.ai/events/23926-oil-caught-between-a-70-summer-and-growing-surplus-fears-financial-post.md) | +1.9% | -1.2% |

## Sources

- financialpost.com: https://financialpost.com/news/opecs-original-cut-just-missed-paving-the-road-to-hell-but-extension-needed-for-oil-to-hit-60-citi

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