# US crude settles up 9.3 percent after OPEC finalizes output cut deal

> US crude settled up 9.3 percent at $49.44 after OPEC finalized its output cut to 32.5 million bpd. Saudi Arabia will cut the most, Iraq will reduce output by 200,000 bpd, and Iran was allowed a slight increase from its October level. Traders said the rally might be short-lived.

- Date: 2016-11-30 · published 2016-11-30T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/8569-us-crude-settles-up-9-3-percent-after-opec-finalizes-output-cut-deal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The OPEC quota agreement reduces global crude supply, which lifts energy prices. Higher crude supports diesel and freight costs for feed buyers, though the price gain may fade if compliance is weak.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2016-11-30 | 1 | +8.1% | 3.8 | US crude's 9.3% rally on the OPEC deal shows the same supply shock moving the benchmark, though it covers WTI not Brent. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-11-30 | [Oil up more than 8 percent as OPEC finalizes output cut deal](https://feedsoft.ai/events/8571-oil-up-more-than-8-percent-as-opec-finalizes-output-cut-deal.md) | +12.5% | +19.3% |
| 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 | 2020-06-06 | [OPEC, Allies Finalize Deal to Extend Oil-Output Cuts](https://feedsoft.ai/events/52510-opec-allies-finalize-deal-to-extend-oil-output-cuts.md) | -8.3% | +2.6% |
| WTI | 2025-10-01 | [Oil settles up after OPEC+ opts for modest output hike](https://feedsoft.ai/events/22769-oil-settles-up-after-opec-opts-for-modest-output-hike.md) | -1.0% | -3.5% |
| WTI | 2016-12-27 | [Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal](https://feedsoft.ai/events/73637-venezuela-aims-to-cut-95-000-barrels-per-day-of-crude-output-in-opec-deal.md) | +0.0% | -0.0% |
| BRENT | 2016-11-30 | [Oil up more than 8 percent as OPEC finalizes output cut deal](https://feedsoft.ai/events/8571-oil-up-more-than-8-percent-as-opec-finalizes-output-cut-deal.md) | +16.7% | +22.1% |
| BRENT | 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) | +16.7% | +22.1% |
| BRENT | 2025-10-01 | [Oil settles up after OPEC+ opts for modest output hike](https://feedsoft.ai/events/22769-oil-settles-up-after-opec-opts-for-modest-output-hike.md) | -2.2% | -5.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2016/11/29/oil-markets-jittery-ahead-of-opec-meeting-later-in-day.html

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