# OPEC+ cuts attract funds back to oil market | Reuters

> Investors bought the equivalent of 47 million barrels of petroleum-related futures and options in the week to October 14 after OPEC+ announced a 2 million bpd output target cut from November. The inflows followed the October 5 decision.

- Date: 2022-10-17 · published 2022-10-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39284-opec-cuts-attract-funds-back-to-oil-market-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Renewed fund buying signals stronger crude price support from the OPEC+ cut, which keeps energy input costs elevated for feed makers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/asia/opec-cuts-attract-funds-back-oil-market-kemp-2022-10-17/

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