# Column - OPEC output cuts boost appeal of light crude, but market yet to respond: Russell

> A Reuters column says the OPEC cuts agreed at end-November, about 1.2 million bpd, with non-OPEC allies such as Russia pledging a further 600,000 bpd, have mainly lifted prices of the heavier crude grades Gulf producers sell. Lighter grades have lagged, and the broader market has not yet responded strongly.

- Date: 2017-01-19 · published 2017-01-19T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/73134-column-opec-output-cuts-boost-appeal-of-light-crude-but-market-yet-to-respond
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Heavy-light crude spreads widening shifts refinery economics and diesel and fuel-oil yields, which feeds into energy input costs for feed producers and freight. The effect on grain and meal prices is indirect.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-01-25 | [Column: OPEC's output restraint tightens oil inventories and spreads](https://feedsoft.ai/events/67144-column-opec-s-output-restraint-tightens-oil-inventories-and-spreads.md) | -2.6% | -7.3% |
| BRENT | 2025-09-01 | [The Commodities Feed: Jerome Powell provides a boost to most markets](https://feedsoft.ai/events/23246-the-commodities-feed-jerome-powell-provides-a-boost-to-most-markets.md) | -4.1% | +3.9% |
| BRENT | 2022-01-27 | [Bond yields rise, rupee falls on US Federal Reserve policy and crude prices \| News on Markets - Business Standard](https://feedsoft.ai/events/43416-bond-yields-rise-rupee-falls-on-us-federal-reserve-policy-and-crude-prices-news.md) | -0.2% | +8.2% |
| BRENT | 2023-04-04 | [Malaysia, Indonesia currencies gain on OPEC+ target cut - Markets - Business Recorder](https://feedsoft.ai/events/36682-malaysia-indonesia-currencies-gain-on-opec-target-cut-markets-business-recorder.md) | +1.3% | -11.0% |
| BRENT | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | +7.4% | +1.0% |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |
| WTI | 2020-10-19 | [Oil steady near $41 before OPEC+ meets to assess state of market - Moneyweb](https://feedsoft.ai/events/50801-oil-steady-near-41-before-opec-meets-to-assess-state-of-market-moneyweb.md) | -2.4% | -1.9% |
| WTI | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +0.5% | +7.0% |

## Sources

- reuters.com: https://www.reuters.com/article/economy/column-opec-output-cuts-boost-appeal-of-light-crude-but-market-yet-to-respond-ru-idUSKBN1530LR/

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