# Oil slips ahead of OPEC+ decision on production cuts | Reuters

> Oil futures fell nearly 2% ahead of an OPEC+ decision on production cuts, with Brent settling at $72.31 and WTI at $68.54. A larger-than-expected draw in US crude stockpiles provided some support.

- Date: 2024-12-04 · published 2024-12-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27119-oil-slips-ahead-of-opec-decision-on-production-cuts-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Anticipation of OPEC+ extending supply curbs limits downside, but the price weakness lowers energy input costs for feed producers and pressures biofuel feedstock values.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-steady-markets-weigh-higher-us-stockpiles-opec-supply-plans-2024-12-04/

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