# Oil up over weaker dollar amid uncertainties of OPEC+ next output move

> Oil rose on May 26 as the US dollar weakened, with Brent trading at $76.40 and WTI at $72.08. Uncertainty over OPEC+ output plans and the US debt limit talks kept markets cautious.

- Date: 2023-05-26 · published 2023-05-26T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/36105-oil-up-over-weaker-dollar-amid-uncertainties-of-opec-next-output-move
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar supports crude demand from non-dollar buyers, while unresolved US debt talks add risk that could lift volatility in energy and grain markets.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-02-01 | [Oil Rises To 3-Week High as Dollar Slips, OPEC Cuts Output \| Stock News & Stock Market Analysis - IBD](https://feedsoft.ai/events/72672-oil-rises-to-3-week-high-as-dollar-slips-opec-cuts-output-stock-news-and-stock.md) | -1.1% | +2.0% |
| WTI | 2026-01-28 | [Pound Near $1.38 Amid Broad Dollar Weakness](https://feedsoft.ai/events/21304-pound-near-1-38-amid-broad-dollar-weakness.md) | +1.1% | +5.1% |
| WTI | 2023-12-14 | [U.S. crude oil rises 3% on weaker dollar, slightly improved 2024 demand outlook](https://feedsoft.ai/events/32887-u-s-crude-oil-rises-3-on-weaker-dollar-slightly-improved-2024-demand-outlook.md) | +6.9% | +5.3% |
| WTI | 2022-01-31 | [Canadian Dollar Climbs Amid Energy Rally, Weaker PPI](https://feedsoft.ai/events/43392-canadian-dollar-climbs-amid-energy-rally-weaker-ppi.md) | +5.6% | +9.8% |
| WTI | 2024-08-22 | [Oil prices settle $1 up on hopes of a US Fed rate cut next month \| Reuters](https://feedsoft.ai/events/28696-oil-prices-settle-1-up-on-hopes-of-a-us-fed-rate-cut-next-month-reuters.md) | +3.7% | +0.1% |
| BRENT | 2021-06-30 | [Rupee weakens further amid strong dollar, rising oil prices - Daijiworld.com](https://feedsoft.ai/events/46886-rupee-weakens-further-amid-strong-dollar-rising-oil-prices-daijiworld-com.md) | +0.1% | -0.5% |
| BRENT | 2023-12-14 | [U.S. crude oil rises 3% on weaker dollar, slightly improved 2024 demand outlook](https://feedsoft.ai/events/32887-u-s-crude-oil-rises-3-on-weaker-dollar-slightly-improved-2024-demand-outlook.md) | +8.4% | +6.6% |
| BRENT | 2024-08-22 | [Oil prices settle $1 up on hopes of a US Fed rate cut next month \| Reuters](https://feedsoft.ai/events/28696-oil-prices-settle-1-up-on-hopes-of-a-us-fed-rate-cut-next-month-reuters.md) | +2.5% | -4.3% |

## Sources

- haberintelifi.aa.com.tr: https://haberintelifi.aa.com.tr/en/economy/oil-up-over-weaker-dollar-amid-uncertainties-of-opec-next-output-move/2906378

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