# Oil steadies near $110/bbl; strong dollar offsets supply worry

> Oil rose 1.5% and posted another weekly gain as OPEC+ kept its plan to raise June output by 432,000 barrels per day. Western nations had called for faster output hikes, but the group did not change course.

- Date: 2022-05-05 · published 2022-05-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/41321-oil-steadies-near-110-bbl-strong-dollar-offsets-supply-worry
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Supply concerns from Russia and the unchanged OPEC+ plan point to firm crude prices, which pass through to diesel and freight costs for feed.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2022/05/05/oil-markets-european-union-russia-china-economy.html

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