# Crude Prices Retreat on Report of Higher Saudi Arabian Oil Production

> Crude fell about 2.9% on Sept. 26 after the Financial Times reported that Saudi Arabia plans to restore output in December. Libya also moved toward reopening its shut-in fields after a central bank governor agreement. Nov WTI closed at a two-week low.

- Date: 2024-09-26 · published 2024-09-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28486-crude-prices-retreat-on-report-of-higher-saudi-arabian-oil-production
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected Saudi and Libyan supply returns increase global crude availability, which pressures energy prices and related biofuel margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- barchart.com: https://www.barchart.com/story/news/28748769/crude-prices-retreat-on-report-of-higher-saudi-arabian-oil-production

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