# Oil prices climb but North American output surge poses fresh challenge for OPEC - Financial Post

> The IEA reported OPEC cut output by about 1 million bpd in January, roughly 90 percent of its target, with Saudi Arabia cutting more than required. It also expects US, Canadian and Brazilian output to grow by 750,000 bpd in 2017.

- Date: 2017-02-10 · published 2017-02-10T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72666-oil-prices-climb-but-north-american-output-surge-poses-fresh-challenge-for-opec
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Strong OPEC compliance supports crude prices, while rising non-OPEC output caps the rally, keeping energy costs for feed and transport range-bound.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-11-29 | [OPEC oil output falls by 110,000 bpd in November -Reuters survey \| Financial Post](https://feedsoft.ai/events/55956-opec-oil-output-falls-by-110-000-bpd-in-november-reuters-survey-financial-post.md) | +0.5% | +6.2% |
| WTI | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.8% | -9.1% |
| WTI | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -6.9% | +4.9% |
| WTI | 2023-07-31 | [OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34940-opec-oil-output-falls-on-saudi-cut-and-nigerian-outage-reuters-survey-finds.md) | +2.8% | -0.4% |
| WTI | 2023-05-02 | [OPEC oil output falls on Iraq, Nigeria outages, Reuters survey finds \| Reuters](https://feedsoft.ai/events/35866-opec-oil-output-falls-on-iraq-nigeria-outages-reuters-survey-finds-reuters.md) | -3.3% | -8.2% |
| BRENT | 2019-11-29 | [OPEC oil output falls by 110,000 bpd in November -Reuters survey \| Financial Post](https://feedsoft.ai/events/55956-opec-oil-output-falls-by-110-000-bpd-in-november-reuters-survey-financial-post.md) | +0.2% | +6.5% |
| BRENT | 2017-02-10 | [Oil is surging this morning on news that OPEC is cutting output like never before - Financial Post](https://feedsoft.ai/events/72668-oil-is-surging-this-morning-on-news-that-opec-is-cutting-output-like-never.md) | +0.2% | -6.2% |
| BRENT | 2019-05-31 | [OPEC Oil Output Set For Drop Despite Saudi Production Boost \| OilPrice.com](https://feedsoft.ai/events/59017-opec-oil-output-set-for-drop-despite-saudi-production-boost-oilprice-com.md) | -8.8% | -2.2% |

## Sources

- financialpost.com: https://financialpost.com/news/oil-prices-climb-but-north-american-output-surge-poses-fresh-challenge-for-opec/

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