# Brent Crude Set for Longest-Ever Rally on OPEC, Economic Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Brent crude rose for a 10th straight session, on track for its longest winning streak since its 1988 launch, and was at $61.89 a barrel. Saudi assurances that OPEC and partner cuts would prevent a surplus, along with reassurance from the Federal Reserve, supported the rally.

- Date: 2019-01-11 · published 2019-01-11T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11167-brent-crude-set-for-longest-ever-rally-on-opec-economic-outlook-energy-news-top
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected OPEC supply cuts and firmer demand outlook point to tighter crude balances. Higher energy prices tend to lift biofuel feedstock values and raise diesel and freight costs across the feed chain.

## 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 | Brent's record 10-session rally to ~$61.89 on Saudi assurances of cuts and Fed reassurance captures the window's cumulative move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +11.9% | +7.2% |
| WTI | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +6.0% | +8.3% |
| WTI | 2018-04-12 | [OPEC Switches Operational Target from Inventories to Investment: Kemp - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65430-opec-switches-operational-target-from-inventories-to-investment-kemp-energy.md) | +2.4% | +6.5% |
| WTI | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -3.0% | -6.5% |
| WTI | 2019-05-21 | [Oil Rises as OPEC Signal on Output Curbs Counters Trade Risk - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/59246-oil-rises-as-opec-signal-on-output-curbs-counters-trade-risk-canadian-energy.md) | -7.3% | -17.7% |
| BRENT | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +5.6% | -1.0% |
| BRENT | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +8.0% | +7.2% |
| BRENT | 2018-04-12 | [OPEC Switches Operational Target from Inventories to Investment: Kemp - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65430-opec-switches-operational-target-from-inventories-to-investment-kemp-energy.md) | +1.7% | +6.9% |

## Sources

- energynow.com: https://energynow.com/2019/01/brent-crude-set-for-longest-ever-rally-on-opec-economic-outlook/

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