# Oil: Top OPEC members put 'pedal to the metal' ahead of output cuts

> Tanker-tracking data from ClipperData showed Saudi Arabia, Kuwait and the UAE exported at or near records through the end of 2016. These three countries pledged combined cuts of 756,000 bpd from October levels.

- Date: 2017-01-04 · published 2017-01-04T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/72915-oil-top-opec-members-put-pedal-to-the-metal-ahead-of-output-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Heavy exports ahead of cuts keep near-term supply high, which is bearish for crude until the three producers actually reduce exports.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-27 | [Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto](https://feedsoft.ai/events/59237-oil-under-pressure-from-u-s-china-trade-war-but-opec-cuts-provide-support-etauto.md) | -8.5% | -1.9% |
| WTI | 2017-01-23 | [OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post](https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s.md) | +1.6% | +2.0% |
| WTI | 2025-07-22 | [Oil prices fall as key trade talks falter ahead of tariff deadline](https://feedsoft.ai/events/23931-oil-prices-fall-as-key-trade-talks-falter-ahead-of-tariff-deadline.md) | -0.8% | -5.7% |
| WTI | 2019-06-03 | [Oil falls as trade fears offset expectations for prolonged supply cuts](https://feedsoft.ai/events/11308-oil-falls-as-trade-fears-offset-expectations-for-prolonged-supply-cuts.md) | +0.9% | +9.0% |
| WTI | 2025-04-07 | [Oil drops to four-year low, metals fall on recession fears](https://feedsoft.ai/events/6319-oil-drops-to-four-year-low-metals-fall-on-recession-fears.md) | -0.8% | -6.8% |
| BRENT | 2017-01-23 | [OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post](https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s.md) | -0.2% | -0.2% |
| BRENT | 2025-07-22 | [Oil prices fall as key trade talks falter ahead of tariff deadline](https://feedsoft.ai/events/23931-oil-prices-fall-as-key-trade-talks-falter-ahead-of-tariff-deadline.md) | -0.1% | -4.5% |
| BRENT | 2019-06-03 | [Oil falls as trade fears offset expectations for prolonged supply cuts](https://feedsoft.ai/events/11308-oil-falls-as-trade-fears-offset-expectations-for-prolonged-supply-cuts.md) | -2.9% | +2.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/01/04/oil-top-opec-members-put-pedal-to-the-metal-ahead-of-output-cuts.html

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