# Oil settles up 1% as OPEC report dampens demand concerns | Reuters

> Oil settled up about 1% on Nov 13 after an OPEC report eased demand concerns. Brent rose to $82.52 and WTI to $78.26, with the report blaming speculators for part of the price drop.

- Date: 2023-11-13 · published 2023-11-13T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

An OPEC demand outlook that stays firm supports crude prices, which feeds into diesel and energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +3.8% | +3.2% |
| WTI | 2021-08-31 | [OPEC+ sees tighter oil market until May 2022 \| Reuters](https://feedsoft.ai/events/45471-opec-sees-tighter-oil-market-until-may-2022-reuters.md) | -1.2% | +8.9% |
| WTI | 2021-08-25 | [U.S. crude inventories fall as demand hits highest since March 2020 - EIA \| Reuters](https://feedsoft.ai/events/11407-u-s-crude-inventories-fall-as-demand-hits-highest-since-march-2020-eia-reuters.md) | +1.4% | +7.1% |
| WTI | 2023-03-31 | [OPEC oil output falls on Angola, Iraq outages - Reuters survey](https://feedsoft.ai/events/36769-opec-oil-output-falls-on-angola-iraq-outages-reuters-survey.md) | +8.6% | +3.3% |
| WTI | 2018-10-24 | [U.S. oil prices up after sharp drop in fuel stocks \| Reuters](https://feedsoft.ai/events/12172-u-s-oil-prices-up-after-sharp-drop-in-fuel-stocks-reuters.md) | -0.4% | -19.7% |
| BRENT | 2024-03-14 | [IEA raises oil demand outlook again but still lags OPEC \| Reuters](https://feedsoft.ai/events/31376-iea-raises-oil-demand-outlook-again-but-still-lags-opec-reuters.md) | +2.2% | +7.9% |
| BRENT | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +2.7% | +2.8% |
| BRENT | 2021-08-31 | [OPEC+ sees tighter oil market until May 2022 \| Reuters](https://feedsoft.ai/events/45471-opec-sees-tighter-oil-market-until-may-2022-reuters.md) | -0.4% | +8.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-ease-worries-waning-demand-us-china-2023-11-13/

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