# Oil prices tick up after OPEC+ panel maintains output cuts

> Oil prices edged up in early trade on October 5, recovering some of the previous day's losses of more than $5. OPEC+ made no changes to output policy, with Saudi Arabia keeping its 1 million bpd voluntary cut and Russia its 300,000 bpd export curb through December.

- Date: 2023-10-05 · published 2023-10-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33523-oil-prices-tick-up-after-opec-panel-maintains-output-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The OPEC+ hold supports crude, but weaker economic data and falling fuel demand are pulling prices down. Those competing forces make the net direction for diesel and fuel costs uncertain in the near term.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2023/10/05/oil-prices-tick-up-after-opec-panel-maintains-output-cuts.html

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