# OPEC cuts make global crude supply lighter and sweeter: Kemp

> Kemp reports that OPEC production cuts have made global crude lighter and sweeter, narrowing Brent's premium over medium sour Oman crude from almost $6 a barrel at the start of 2016 to about $1.25 by early March. The Brent futures curve is in contango through December, while the Oman curve is flat, which points to expected tightness in medium crude.

- Date: 2017-03-17 · published 2017-03-17T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/72176-opec-cuts-make-global-crude-supply-lighter-and-sweeter-kemp
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A narrower sweet-sour spread shows that OPEC's cuts are tightening supply in specific grades, which supports crude prices and raises the cost of diesel and freight for feed supply chains.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-02-28 | [OPEC+ Extends Oil Cuts Amid Global Supply Crunch - Energy News Africa Plus](https://feedsoft.ai/events/31861-opec-extends-oil-cuts-amid-global-supply-crunch-energy-news-africa-plus.md) | +0.2% | +2.8% |
| BRENT | 2022-09-05 | [OPEC+ agrees to make token supply cut to steady oil market](https://feedsoft.ai/events/39516-opec-agrees-to-make-token-supply-cut-to-steady-oil-market.md) | -0.9% | -5.0% |
| BRENT | 2023-12-01 | [Deeper OPEC+ supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/32488-deeper-opec-supply-cuts-articles-ing-think.md) | -9.9% | -6.0% |
| BRENT | 2017-07-25 | [OPEC may extend its supply curbs further, says Al Mazrouei](https://feedsoft.ai/events/69869-opec-may-extend-its-supply-curbs-further-says-al-mazrouei.md) | +8.5% | +7.5% |
| BRENT | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | +1.5% | -6.3% |

## Sources

- reuters.com: https://www.reuters.com/article/crude-differentials-kemp-idINL5N1GU49F/?edition-redirect=in

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