# Oil rises, lifted by OPEC cuts and steadying stock market

> U.S. West Texas Intermediate crude settled 56 cents higher at $48.52 a barrel, and Brent rose to $57.33, extending a rebound from December lows. The gains were driven by OPEC and non-member production cuts, with Saudi Arabia reportedly planning deeper export cuts, and by steadier equity markets ahead of U.S.-China talks.

- Date: 2019-01-07 · published 2019-01-07T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12761-oil-rises-lifted-by-opec-cuts-and-steadying-stock-market
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply cuts from OPEC+ tighten the crude market and lift energy input costs, which can support diesel and fertilizer prices that feed into feed production costs.

## 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 | OPEC and non-OPEC cuts, reported deeper Saudi export cuts and steadier equities extended the rebound, with Brent at $57.33. |

## Sources

- cnbc.com: https://www.cnbc.com/2019/01/07/oil-markets-us-china-trade-crude-supply-in-focus.html

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