# Oil Prices: What to Make of the Volatility

> An article on oil price volatility notes that OPEC agreed to limit output for six months starting in 2017, with Saudi Arabia cutting about 486,000 barrels a day. The cartel's total cut has reached as much as 1.2 million barrels a day.

- Date: 2017-01-09 · published 2017-01-09T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/73142-oil-prices-what-to-make-of-the-volatility
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Supply restraint supports crude prices, which lifts diesel and natural gas costs and the cost of transporting feed ingredients. The cuts are a known background driver rather than new news.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | -10.8% | -16.4% |
| WTI | 2023-07-26 | [The increase in the price of oil led to an increase in the prices of gas and nitrogen fertilizers](https://feedsoft.ai/events/7009-the-increase-in-the-price-of-oil-led-to-an-increase-in-the-prices-of-gas-and.md) | +2.1% | +0.7% |
| WTI | 2018-04-30 | [Will oil prices be the trigger that wakes the inflation beast? - Financial Post](https://feedsoft.ai/events/65433-will-oil-prices-be-the-trigger-that-wakes-the-inflation-beast-financial-post.md) | +2.4% | -0.3% |
| WTI | 2022-03-08 | [Specter of stagflation looms due to soaring oil prices, weakening won - The Korea Times](https://feedsoft.ai/events/42506-specter-of-stagflation-looms-due-to-soaring-oil-prices-weakening-won-the-korea.md) | -13.5% | -13.4% |
| WTI | 2016-12-05 | [The good oil on grain prices… - Grain Central](https://feedsoft.ai/events/73542-the-good-oil-on-grain-prices-grain-central.md) | -0.4% | +1.3% |
| BRENT | 2023-07-26 | [The increase in the price of oil led to an increase in the prices of gas and nitrogen fertilizers](https://feedsoft.ai/events/7009-the-increase-in-the-price-of-oil-led-to-an-increase-in-the-prices-of-gas-and.md) | +1.9% | +1.0% |
| BRENT | 2018-04-30 | [Will oil prices be the trigger that wakes the inflation beast? - Financial Post](https://feedsoft.ai/events/65433-will-oil-prices-be-the-trigger-that-wakes-the-inflation-beast-financial-post.md) | -0.2% | +2.0% |
| BRENT | 2016-12-05 | [The good oil on grain prices… - Grain Central](https://feedsoft.ai/events/73542-the-good-oil-on-grain-prices-grain-central.md) | -0.3% | +3.5% |

## Sources

- nytimes.com: https://www.nytimes.com/interactive/2017/01/09/business/energy-environment/oil-prices.html

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