# Arab News | Crude prices rise as OPEC cuts output as promised

> OPEC crude output fell sharply in January, with Reuters survey data showing 30.01 million bpd from 11 member countries versus 31.17 million in December. OPEC reached 82 percent compliance with its promised cuts, and Brent traded near $55.73.

- Date: 2017-02-01 · published 2017-02-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72674-arab-news-crude-prices-rise-as-opec-cuts-output-as-promised
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stronger OPEC compliance supports crude prices, though rising US shale output limits the upside and keeps energy costs moderate for feed users.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +0.1% | -3.2% |
| WTI | 2022-08-26 | [Oil prices rise on signals OPEC might cut output](https://feedsoft.ai/events/40228-oil-prices-rise-on-signals-opec-might-cut-output.md) | -6.6% | -15.2% |
| WTI | 2023-05-01 | [OPEC+ announces surprise oil output cuts](https://feedsoft.ai/events/36320-opec-announces-surprise-oil-output-cuts.md) | -7.1% | -5.6% |
| WTI | 2022-11-30 | [Crude Oil Prices Rise On Concerns OPEC+ Could Keep Oil Output Policy Unchanged](https://feedsoft.ai/events/38850-crude-oil-prices-rise-on-concerns-opec-could-keep-oil-output-policy-unchanged.md) | -4.9% | +1.1% |
| WTI | 2023-11-30 | [Oil prices swing as OPEC+ agrees on additional output cuts](https://feedsoft.ai/events/33335-oil-prices-swing-as-opec-agrees-on-additional-output-cuts.md) | -11.0% | -7.4% |
| BRENT | 2024-04-03 | [OPEC+ Keeps Oil Output Steady As Crude Prices Soar](https://feedsoft.ai/events/30646-opec-keeps-oil-output-steady-as-crude-prices-soar.md) | +2.8% | -0.3% |
| BRENT | 2022-08-26 | [Oil prices rise on signals OPEC might cut output](https://feedsoft.ai/events/40228-oil-prices-rise-on-signals-opec-might-cut-output.md) | -6.8% | -8.7% |
| BRENT | 2023-05-01 | [OPEC+ announces surprise oil output cuts](https://feedsoft.ai/events/36320-opec-announces-surprise-oil-output-cuts.md) | -6.0% | -4.7% |

## Sources

- arabnews.com: https://www.arabnews.com/business/crude-prices-rise-as-opec-cuts-output-as-promised-1047256

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