# What is OPEC+ and how does it impact oil prices? | Reuters

> Reuters explainer describes how OPEC+ decisions affect global oil prices, noting that supply cuts tend to raise prices and supply increases tend to lower them. The piece is general background without a new event.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/36112-what-is-opec-and-how-does-it-impact-oil-prices-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

OPEC+ supply decisions drive crude prices, which in turn shift biofuel margins and energy costs across feed supply chains.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- reuters.com: https://www.reuters.com/business/energy/what-is-opec-how-does-it-impact-oil-prices-2023-05-31/

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