# Oil prices rise as Opec+ sticks to output cut policy | The National

> Oil prices rose on February 1 after OPEC+ members kept their production policy unchanged at an online meeting. Brent was up 0.78% at $81.18 a barrel and WTI was up 0.8% at $76.46.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31569-oil-prices-rise-as-opec-sticks-to-output-cut-policy-the-national
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil moved higher on the policy hold, which keeps the voluntary cuts in place and supports crude prices. This feeds into energy costs for feed production and transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2024/02/01/oil-prices-rise-as-opec-sticks-to-output-cut-policy/

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