# Crude oil prices today: WTI falls as Saudi committed to higher output

> US crude fell nearly 3% to below $68 after a report that Saudi Arabia is prepared to proceed with production increases in December even if prices stay low. Libyan output expectations also weighed on prices.

- Date: 2024-09-26 · published 2024-09-26T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28481-crude-oil-prices-today-wti-falls-as-saudi-committed-to-higher-output
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected supply growth from OPEC+ and Libya points to a looser crude market, which lowers energy input costs and reduces biofuel-driven support for vegetable oils.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-01-20 | [Oil falls as Trump's plan to boost US oil output takes shape](https://feedsoft.ai/events/26687-oil-falls-as-trump-s-plan-to-boost-us-oil-output-takes-shape.md) | -6.3% | -8.0% |
| WTI | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -22.0% | -17.5% |
| WTI | 2019-04-26 | [Oil sinks 3% as Trump again pressures OPEC to lower crude prices](https://feedsoft.ai/events/8093-oil-sinks-3-as-trump-again-pressures-opec-to-lower-crude-prices.md) | -5.3% | -11.5% |
| WTI | 2018-05-25 | [Oil prices are plunging as Russians and Saudis rethink output caps](https://feedsoft.ai/events/64937-oil-prices-are-plunging-as-russians-and-saudis-rethink-output-caps.md) | -7.0% | -2.7% |
| WTI | 2024-09-27 | [Oil settles higher but falls on the week on firmer supply outlook](https://feedsoft.ai/events/28239-oil-settles-higher-but-falls-on-the-week-on-firmer-supply-outlook.md) | +8.9% | +3.5% |
| BRENT | 2025-01-20 | [Oil falls as Trump's plan to boost US oil output takes shape](https://feedsoft.ai/events/26687-oil-falls-as-trump-s-plan-to-boost-us-oil-output-takes-shape.md) | -4.0% | -8.5% |
| BRENT | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -21.5% | -18.3% |
| BRENT | 2019-04-26 | [Oil sinks 3% as Trump again pressures OPEC to lower crude prices](https://feedsoft.ai/events/8093-oil-sinks-3-as-trump-again-pressures-opec-to-lower-crude-prices.md) | -5.3% | -8.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/09/26/crude-oil-prices-today.html

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