# Oil market braces for OPEC decisions as crude prices climb | Euronews

> Crude prices rose ahead of the OPEC+ policy meeting, now moved to June 2 in virtual format after the death of Iran's president. Brent and WTI were near $83 and $78, with year-to-date gains of about 5% in futures.

- Date: 2024-05-28 · published 2024-05-28T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30419-oil-market-braces-for-opec-decisions-as-crude-prices-climb-euronews
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations that OPEC+ will extend production cuts support crude prices, which raise energy and transport costs across feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-11-12 | [Oil prices climb as OPEC eyes output curbs](https://feedsoft.ai/events/62218-oil-prices-climb-as-opec-eyes-output-curbs.md) | -5.1% | -11.4% |
| BRENT | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -3.2% | -7.8% |
| BRENT | 2022-02-28 | [Oil Prices for Mar. 01, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/42854-oil-prices-for-mar-01-2022-brent-crude-wti-bloomberg.md) | +23.1% | +23.8% |
| BRENT | 2024-10-07 | [Crude oil price today: Oil jumps as market waits for Israel attack on Iran](https://feedsoft.ai/events/10028-crude-oil-price-today-oil-jumps-as-market-waits-for-israel-attack-on-iran.md) | +1.2% | -6.8% |
| BRENT | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | +0.0% | +2.2% |
| WTI | 2018-11-12 | [Oil prices climb as OPEC eyes output curbs](https://feedsoft.ai/events/62218-oil-prices-climb-as-opec-eyes-output-curbs.md) | -6.2% | -15.2% |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |
| WTI | 2022-02-28 | [Oil Prices for Mar. 01, 2022: Brent Crude, WTI - Bloomberg](https://feedsoft.ai/events/42854-oil-prices-for-mar-01-2022-brent-crude-wti-bloomberg.md) | +26.3% | +25.9% |

## Sources

- euronews.com: https://www.euronews.com/2024/05/28/oil-market-braces-for-opec-decisions-as-crude-prices-climb

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