# Oil Bounces Back to Bull Market Fueled by OPEC Cuts, Trade Talks - Bloomberg

> Crude oil returned to a bull market after a 23 percent recovery from its December lows, with intermediate crude closing at $52.36 a barrel. Investors who had sold off oil a month earlier came back amid an OPEC-led campaign to curb supply.

- Date: 2019-01-08 · published 2019-01-08T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11165-oil-bounces-back-to-bull-market-fueled-by-opec-cuts-trade-talks-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Coordinated OPEC production cuts tighten crude supply, which lifts energy costs and supports biofuel margins that influence demand for soybean oil and corn. Higher crude also raises diesel and freight costs for feed ingredients.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-01-10 | 5 | +13.6% | 3.3 | Crude re-entered a bull market on OPEC-led supply curbs and trade talks, as investors returned after the December selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-12-01 | [OPEC’s Easy Win Masks Tougher Oil-Market Choices Still to Come - Bloomberg](https://feedsoft.ai/events/67407-opec-s-easy-win-masks-tougher-oil-market-choices-still-to-come-bloomberg.md) | -1.5% | +5.3% |
| WTI | 2019-02-12 | [OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg](https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg.md) | +6.0% | +8.3% |
| WTI | 2019-10-11 | [Oil markets: OPEC, US-China trade in focus](https://feedsoft.ai/events/56742-oil-markets-opec-us-china-trade-in-focus.md) | +0.6% | +6.4% |
| WTI | 2023-12-01 | [Oil Futures Lower as Market Ponders OPEC Cuts](https://feedsoft.ai/events/32494-oil-futures-lower-as-market-ponders-opec-cuts.md) | -8.8% | -5.2% |
| WTI | 2023-04-02 | [Oil leaps 6% as OPEC+ shocks markets by cutting output target](https://feedsoft.ai/events/7946-oil-leaps-6-as-opec-shocks-markets-by-cutting-output-target.md) | +5.4% | -0.0% |
| BRENT | 2017-12-01 | [OPEC’s Easy Win Masks Tougher Oil-Market Choices Still to Come - Bloomberg](https://feedsoft.ai/events/67407-opec-s-easy-win-masks-tougher-oil-market-choices-still-to-come-bloomberg.md) | -2.0% | +4.9% |
| BRENT | 2019-02-12 | [OPEC Chief Urges Producers to Meet Pledges to Cut Oil Output - Bloomberg](https://feedsoft.ai/events/60516-opec-chief-urges-producers-to-meet-pledges-to-cut-oil-output-bloomberg.md) | +8.0% | +7.2% |
| BRENT | 2019-10-11 | [Oil markets: OPEC, US-China trade in focus](https://feedsoft.ai/events/56742-oil-markets-opec-us-china-trade-in-focus.md) | +0.9% | +5.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-01-08/oil-holds-gains-near-3-week-high-as-trade-deal-optimism-grows

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