# Oil gains nearly 3% after OPEC+ delays output hike

> Oil rose nearly 3% on Monday after OPEC+ decided to delay a planned output increase by one month. Brent settled at $75.08 and WTI at $71.47.

- Date: 2024-11-04 · published 2024-11-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27305-oil-gains-nearly-3-after-opec-delays-output-hike
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The delay supports crude prices, raising energy and input costs for feed production and possibly lifting vegetable oil values via biofuel demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2024/11/04/oil-prices-rise-by-over-1-on-opec-output-hike-delay.html
- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-rise-by-over-1-opec-output-hike-delay-2024-11-04/

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