diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6fb43d5..07aebcf 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,17 @@
+# 0.18.0 (September 18, 2022)
+
+### Breaking Changes
+
+- Upgrade to `v0.18.0` of `opentelemetry` ([#2303])
+  For list of breaking changes in OpenTelemetry, see the
+  [v0.18.0 changelog](https://github.com/open-telemetry/opentelemetry-rust/blob/main/opentelemetry/CHANGELOG.md#v0180).
+
+### Fixed
+
+- `on_event` respects event's explicit parent ([#2296])
+
+Thanks to @wprzytula for contributing to this release!
+
 # 0.17.4 (July 1, 2022)
 
 This release adds optional support for recording `std::error::Error`s using
diff --git a/Cargo.toml b/Cargo.toml
index f04b99c..a705b57 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "tracing-opentelemetry"
-version = "0.17.4"
+version = "0.18.0"
 authors = [
     "Julian Tescher <julian@tescher.me>",
     "Tokio Contributors <team@tokio.rs>"
@@ -40,11 +40,10 @@ thiserror = { version = "1.0.31", optional = true }
 async-trait = "0.1.56"
 criterion = { version = "0.3.6", default-features = false }
 opentelemetry-jaeger = "0.17.0"
-tracing = { version = "0.1.35", default-features = false, features = ["std", "attributes"] }
-tracing-subscriber = { version = "0.3.0", default-features = false, features = ["registry", "std"] }
 futures-util = { version = "0.3", default-features = false }
 tokio = { version = "1", features = ["full"] }
 tokio-stream = "0.1"
+tracing = { version = "0.1.35", default-features = false, features = ["std", "attributes"] }
 
 [lib]
 bench = false
diff --git a/README.md b/README.md
index 9260d80..4ccbb4a 100644
--- a/README.md
+++ b/README.md
@@ -17,9 +17,9 @@ Utilities for adding [OpenTelemetry] interoperability to [`tracing`].
 [Documentation][docs-url] | [Chat][discord-url]
 
 [crates-badge]: https://img.shields.io/crates/v/tracing-opentelemetry.svg
-[crates-url]: https://crates.io/crates/tracing-opentelemetry/0.17.4
+[crates-url]: https://crates.io/crates/tracing-opentelemetry/0.18.0
 [docs-badge]: https://docs.rs/tracing-opentelemetry/badge.svg
-[docs-url]: https://docs.rs/tracing-opentelemetry/0.17.4/tracing_opentelemetry
+[docs-url]: https://docs.rs/tracing-opentelemetry/0.18.0/tracing_opentelemetry
 [docs-master-badge]: https://img.shields.io/badge/docs-master-blue
 [docs-master-url]: https://tracing-rs.netlify.com/tracing_opentelemetry
 [mit-badge]: https://img.shields.io/badge/license-MIT-blue.svg
diff --git a/src/layer.rs b/src/layer.rs
index 8e6424b..f4a3057 100644
--- a/src/layer.rs
+++ b/src/layer.rs
@@ -77,7 +77,7 @@ where
 //
 // See https://github.com/tokio-rs/tracing/blob/4dad420ee1d4607bad79270c1520673fa6266a3d/tracing-error/src/layer.rs
 pub(crate) struct WithContext(
-    #[allow(clippy::type_complexity)] // who cares
+    #[allow(clippy::type_complexity)]
     fn(&tracing::Dispatch, &span::Id, f: &mut dyn FnMut(&mut OtelData, &dyn PreSampledTracer)),
 );
 
@@ -971,7 +971,10 @@ fn thread_id_integer(id: thread::ThreadId) -> u64 {
 mod tests {
     use super::*;
     use crate::OtelData;
-    use opentelemetry::trace::{noop, TraceFlags};
+    use opentelemetry::{
+        trace::{noop, TraceFlags},
+        StringValue,
+    };
     use std::{
         borrow::Cow,
         collections::HashMap,
@@ -1093,16 +1096,6 @@ mod tests {
         tracing::subscriber::with_default(subscriber, || {
             tracing::debug_span!("static_name", otel.name = dynamic_name.as_str());
         });
-        let recorded_status = tracer
-            .0
-            .lock()
-            .unwrap()
-            .as_ref()
-            .unwrap()
-            .builder
-            .status
-            .clone();
-        assert_eq!(recorded_status, otel::Status::Unset);
 
         let recorded_name = tracer
             .0
diff --git a/src/lib.rs b/src/lib.rs
index d3bc5bb..9f5dd1c 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -100,7 +100,7 @@
 //! [subscriber]: tracing_subscriber::subscribe
 #![deny(unreachable_pub)]
 #![cfg_attr(test, deny(warnings))]
-#![doc(html_root_url = "https://docs.rs/tracing-opentelemetry/0.17.4")]
+#![doc(html_root_url = "https://docs.rs/tracing-opentelemetry/0.18.0")]
 #![doc(
     html_logo_url = "https://raw.githubusercontent.com/tokio-rs/tracing/master/assets/logo-type.png",
     issue_tracker_base_url = "https://github.com/tokio-rs/tracing/issues/"