# OPEC+ meeting on Aug. 3: Oil prices rise on tight supply | Stock Market News

> Oil rose in early trade ahead of the OPEC+ meeting on Aug. 3, which will consider keeping output unchanged for September or a modest increase. Brent for September rose 86 cents to $108.00 and WTI rose $1.09 to $97.51.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40663-opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-stock-market-news
- 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

Supply uncertainty ahead of the OPEC+ decision supports crude and energy costs for feed producers, while a weaker dollar adds upward pressure.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | -1.0% | +3.6% |
| WTI | 2018-08-28 | [Oil prices rise on expectations of tightening market on supply risks, ETEnergyworld](https://feedsoft.ai/events/63701-oil-prices-rise-on-expectations-of-tightening-market-on-supply-risks.md) | +0.3% | +4.9% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |
| WTI | 2025-10-23 | [Oil Prices Surge 5% as Russia Sanctions Meet A Tight Futures Market](https://feedsoft.ai/events/8130-oil-prices-surge-5-as-russia-sanctions-meet-a-tight-futures-market.md) | +3.3% | +1.6% |
| WTI | 2022-08-29 | [Oil prices climb on OPEC supply cut prospect, rise in demand](https://feedsoft.ai/events/40197-oil-prices-climb-on-opec-supply-cut-prospect-rise-in-demand.md) | -6.7% | -17.6% |
| BRENT | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | +0.0% | +2.2% |
| BRENT | 2018-08-28 | [Oil prices rise on expectations of tightening market on supply risks, ETEnergyworld](https://feedsoft.ai/events/63701-oil-prices-rise-on-expectations-of-tightening-market-on-supply-risks.md) | +3.1% | +7.6% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |

## Sources

- livemint.com: https://www.livemint.com/market/commodities/opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-11659060101873.html

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