# Oil settles lower as economic jitters outweigh supply cuts | Reuters

> Oil settled lower as concerns about economic growth outweighed the effect of OPEC+ supply cuts. The cuts total about 5.16 million bpd, equal to 1.5% of global supply.

- Date: 2023-07-03 · published 2023-07-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34945-oil-settles-lower-as-economic-jitters-outweigh-supply-cuts-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Economic worries limit crude price gains even with large supply cuts, which helps keep energy and fuel costs for feed mills steadier.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-slip-global-economic-slowdown-fears-2023-07-03/

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