# OPEC deal gives Suez Canal hope for revenue: Fuel for Thought - CTRM Center

> Egypt, a net crude importer, hopes OPEC's production cut will lift Suez Canal traffic and revenue, since the oil price slump since 2014 hurt canal income. The article notes Egypt's canal tariffs are high relative to bunker fuel savings from the Cape route.

- Date: 2016-12-05 · published 2016-12-05T12:00:00.000Z
- Category: policy · region Egypt · magnitude low
- Page: https://feedsoft.ai/events/73385-opec-deal-gives-suez-canal-hope-for-revenue-fuel-for-thought-ctrm-center
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

OPEC's output cut supports crude prices, which lifts energy and fuel costs for feed processing and transport. The canal revenue angle is secondary to the price effect on energy markets.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-01 | [After OPEC deal, oil expected to rally - for the moment](https://feedsoft.ai/events/9703-after-opec-deal-oil-expected-to-rally-for-the-moment.md) | +0.8% | +8.8% |
| WTI | 2022-09-05 | [OPEC+ gives Saudi chairman power to intervene to address market developments](https://feedsoft.ai/events/39513-opec-gives-saudi-chairman-power-to-intervene-to-address-market-developments.md) | +1.0% | -3.7% |
| WTI | 2022-07-29 | [Oil up over $2 per barrel as hopes fade for OPEC+ supply boost \| Reuters](https://feedsoft.ai/events/40404-oil-up-over-2-per-barrel-as-hopes-fade-for-opec-supply-boost-reuters.md) | -8.0% | -5.2% |
| WTI | 2016-11-30 | [Oil jumps over 10 percent as OPEC finalizes output cut deal \| Reuters](https://feedsoft.ai/events/8564-oil-jumps-over-10-percent-as-opec-finalizes-output-cut-deal-reuters.md) | +12.5% | +19.3% |
| WTI | 2016-12-01 | [OPEC reaches first deal to cut oil output since 2008](https://feedsoft.ai/events/9701-opec-reaches-first-deal-to-cut-oil-output-since-2008.md) | +0.8% | +8.8% |
| BRENT | 2016-12-01 | [After OPEC deal, oil expected to rally - for the moment](https://feedsoft.ai/events/9703-after-opec-deal-oil-expected-to-rally-for-the-moment.md) | +6.6% | +12.9% |
| BRENT | 2022-09-05 | [OPEC+ gives Saudi chairman power to intervene to address market developments](https://feedsoft.ai/events/39513-opec-gives-saudi-chairman-power-to-intervene-to-address-market-developments.md) | -0.9% | -5.0% |
| BRENT | 2022-07-29 | [Oil up over $2 per barrel as hopes fade for OPEC+ supply boost \| Reuters](https://feedsoft.ai/events/40404-oil-up-over-2-per-barrel-as-hopes-fade-for-opec-supply-boost-reuters.md) | -11.4% | -8.6% |

## Sources

- ctrmcenter.com: https://www.ctrmcenter.com/ctrm-community/opec-deal-gives-suez-canal-hope-for-revenue-fuel-for-thought/

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