# So far, so good for OPEC, but long-term trends essential - UPI.com

> A S&P Global Platts survey of December data showed OPEC output fell about 280,000 bpd from November to 32.85 million bpd. Iran is allowed to grow output, Libya is exempt, and Iraq has said it will reduce output this year.

- Date: 2017-01-12 · published 2017-01-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72914-so-far-so-good-for-opec-but-long-term-trends-essential-upi-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The managed decline supports crude prices, but analysts question whether compliance will last long enough to clear the stock overhang, and rising US output is a counterweight.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-01-17 | [Oil up on OPEC output cuts, hopes of easing U.S.-China trade tensions - Global Energy Network](https://feedsoft.ai/events/61244-oil-up-on-opec-output-cuts-hopes-of-easing-u-s-china-trade-tensions-global.md) | +0.7% | +3.3% |
| WTI | 2017-02-10 | [Oil prices climb but North American output surge poses fresh challenge for OPEC - Financial Post](https://feedsoft.ai/events/72666-oil-prices-climb-but-north-american-output-surge-poses-fresh-challenge-for-opec.md) | +0.8% | -9.1% |
| WTI | 2021-05-31 | [OPEC Boosted Production Less Than Expected In May \| OilPrice.com](https://feedsoft.ai/events/47016-opec-boosted-production-less-than-expected-in-may-oilprice-com.md) | +4.4% | +10.0% |
| WTI | 2018-10-19 | [Leaked Document: OPEC+ Struggling To Lift Oil Production \| OilPrice.com](https://feedsoft.ai/events/62458-leaked-document-opec-struggling-to-lift-oil-production-oilprice-com.md) | -2.0% | -17.8% |
| 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% |
| BRENT | 2019-01-17 | [Oil up on OPEC output cuts, hopes of easing U.S.-China trade tensions - Global Energy Network](https://feedsoft.ai/events/61244-oil-up-on-opec-output-cuts-hopes-of-easing-u-s-china-trade-tensions-global.md) | +0.9% | +4.8% |
| BRENT | 2017-02-10 | [Oil prices climb but North American output surge poses fresh challenge for OPEC - Financial Post](https://feedsoft.ai/events/72666-oil-prices-climb-but-north-american-output-surge-poses-fresh-challenge-for-opec.md) | +0.2% | -6.2% |

## Sources

- upi.com: https://www.upi.com/Energy-News/2017/01/12/OPEC-deal-holding-though-look-out-for-US-oil/8301484225235/

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