# Is OPEC Losing Its Ability to Influence Oil Prices?

> A St. Louis Fed note asks whether OPEC still controls oil prices, noting OPEC holds 42 percent of world output while prices barely reacted to the September and November 2016 cut announcements. It cites rising non-OPEC output, which grew 3.1 percent in 2015.

- Date: 2017-03-21 · published 2017-03-21T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/71904-is-opec-losing-its-ability-to-influence-oil-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker OPEC price effect means cuts may deliver less price support than markets expect, keeping crude and energy-linked costs more exposed to supply growth.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-07-04 | [Why are OPEC+ supply cuts failing to boost oil prices?](https://feedsoft.ai/events/34941-why-are-opec-supply-cuts-failing-to-boost-oil-prices.md) | +7.3% | +16.7% |
| WTI | 2025-01-26 | [Oil Drops As Trump Urges OPEC To Cut Prices](https://feedsoft.ai/events/26667-oil-drops-as-trump-urges-opec-to-cut-prices.md) | -2.8% | -5.2% |
| WTI | 2018-06-17 | [The Fed Is Driving Down Oil Prices \| OilPrice.com](https://feedsoft.ai/events/64443-the-fed-is-driving-down-oil-prices-oilprice-com.md) | +5.9% | +4.8% |
| WTI | 2025-02-01 | [Oil Declines After Trump Says He’ll Push OPEC to Lower Prices](https://feedsoft.ai/events/26674-oil-declines-after-trump-says-he-ll-push-opec-to-lower-prices.md) | -2.1% | -5.8% |
| WTI | 2021-08-31 | [Oil prices near biggest monthly loss since October before OPEC meets](https://feedsoft.ai/events/45722-oil-prices-near-biggest-monthly-loss-since-october-before-opec-meets.md) | -1.2% | +8.9% |

## Sources

- stlouisfed.org: https://www.stlouisfed.org/on-the-economy/2017/march/opec-losing-ability-influence-oil-prices

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