# OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post

> Analysts at Bank of America Merrill Lynch warned that Trump's protectionist trade moves could hit global commodity demand. The bank said oil prices in local currencies are near 2014 levels and emerging-market demand could suffer. Trump withdrew the US from the Trans-Pacific Partnership on his first working day.

- Date: 2017-01-23 · published 2017-01-23T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/73143-opec-s-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trump-s
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp fall in trade would reduce energy and commodity demand, pressuring crude and related feed input prices. Trade policy uncertainty adds volatility to grain and oilseed export flows.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -6.9% | +4.9% |
| 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 | 2025-04-09 | [Oil falls to lowest since 2021 as Trump's tariffs take effect](https://feedsoft.ai/events/6322-oil-falls-to-lowest-since-2021-as-trump-s-tariffs-take-effect.md) | +2.9% | -1.5% |
| WTI | 2019-05-06 | [Trump's China Tweets Shatter Historic Calm in Global Markets \| Fortune](https://feedsoft.ai/events/10429-trump-s-china-tweets-shatter-historic-calm-in-global-markets-fortune.md) | -0.5% | -13.7% |
| 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% |
| BRENT | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -8.8% | -2.2% |
| BRENT | 2025-04-09 | [Oil falls to lowest since 2021 as Trump's tariffs take effect](https://feedsoft.ai/events/6322-oil-falls-to-lowest-since-2021-as-trump-s-tariffs-take-effect.md) | +2.8% | -4.9% |

## Sources

- financialpost.com: https://financialpost.com/energy/opecs-fantastic-cuts-fail-to-lift-oil-as-market-frets-over-trumps-protectionist-policies/

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