# OPEC Cuts 860,000 B/D Output, More Work Required | MEES

> OPEC cut crude production by 860,000 b/d in January, its largest monthly fall in nearly three years. Output nonetheless remained 570,000 b/d above its first-half 2017 target. Oil prices had fallen about $1 per barrel early in February but stayed above $50.

- Date: 2017-02-10 · published 2017-02-10T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72411-opec-cuts-860-000-b-d-output-more-work-required-mees
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The largest monthly cut in nearly three years tightens crude supply and supports prices, though the remaining gap to target caps the rally. Crude price direction affects biofuel economics and energy costs for feed.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-02-13 | [OPEC Reports First Output Deal Results: 890,000 Bpd Cut \| OilPrice.com](https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com.md) | -1.4% | -8.8% |
| BRENT | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | -0.2% | +2.0% |
| BRENT | 2017-01-19 | [IEA: OPEC output cuts under scrutiny as market tightens](https://feedsoft.ai/events/72916-iea-opec-output-cuts-under-scrutiny-as-market-tightens.md) | +1.6% | +2.4% |
| BRENT | 2022-11-30 | [OPEC oil output drops in November after cut pledged -survey \| Reuters](https://feedsoft.ai/events/38584-opec-oil-output-drops-in-november-after-cut-pledged-survey-reuters.md) | -4.2% | -0.8% |
| BRENT | 2024-01-31 | [OPEC oil output falls in January on new cuts, Libya - survey \| Reuters](https://feedsoft.ai/events/32028-opec-oil-output-falls-in-january-on-new-cuts-libya-survey-reuters.md) | -4.8% | +0.3% |
| WTI | 2017-02-13 | [OPEC Reports First Output Deal Results: 890,000 Bpd Cut \| OilPrice.com](https://feedsoft.ai/events/72408-opec-reports-first-output-deal-results-890-000-bpd-cut-oilprice-com.md) | -0.8% | -10.7% |
| WTI | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | +2.4% | -0.3% |
| WTI | 2017-01-19 | [IEA: OPEC output cuts under scrutiny as market tightens](https://feedsoft.ai/events/72916-iea-opec-output-cuts-under-scrutiny-as-market-tightens.md) | +2.4% | +3.9% |

## Sources

- mees.com: https://www.mees.com/2017/2/10/opec/opec-cuts-860000-bd-output-more-work-required/e65c9920-4932-11e7-a57b-754fa57da56d

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