# Oil settles up US$2 on tighter supply; Opec+ talks limit gains - The Business Times

> Oil settled more than $2 a barrel higher on signs of tighter supply, a weaker dollar and hopes for a Chinese demand recovery. US crude stocks fell nearly 13 million barrels in the week to Nov 25, the largest drop since 2019. Gains were capped by an OPEC+ decision to hold its Dec 4 meeting virtually, which signals little chance of a policy change.

- Date: 2022-11-30 · published 2022-11-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/38848-oil-settles-up-us-2-on-tighter-supply-opec-talks-limit-gains-the-business-times
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Tighter crude and a softer dollar lift energy and diesel costs for feed producers, while the lack of an OPEC+ policy change limits further upside.

## Read by commodity

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

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/oil-settles-us2-tighter-supply-opec-talks-limit-gains

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