# Oil rises as investors focus on OPEC+ decision

> Oil rose on December 2 ahead of an OPEC+ decision on January output, recouping prior losses. Brent gained $1.24 to $70.11 and WTI rose $1.13 to $66.70, after more than $10 of losses since Omicron emerged.

- Date: 2021-12-02 · published 2021-12-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/43759-oil-rises-as-investors-focus-on-opec-decision
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of OPEC+ restraint or continued output hikes will drive crude direction, affecting energy and freight costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-09-27 | [Oil rises as investors fret over Iranian supply gaps](https://feedsoft.ai/events/63232-oil-rises-as-investors-fret-over-iranian-supply-gaps.md) | +5.2% | -5.9% |
| BRENT | 2019-09-19 | [Oil prices rise as Saudi supply risks come into focus](https://feedsoft.ai/events/57239-oil-prices-rise-as-saudi-supply-risks-come-into-focus.md) | -2.4% | -7.2% |
| BRENT | 2024-11-03 | [Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading](https://feedsoft.ai/events/27307-oil-rises-as-opec-delays-output-hike-election-roils-trading.md) | +0.8% | +0.2% |
| BRENT | 2026-05-21 | [US oil prices rise as investors doubt breakthrough in US-Iran peace talks \| Reuters](https://feedsoft.ai/events/19427-us-oil-prices-rise-as-investors-doubt-breakthrough-in-us-iran-peace-talks.md) | -11.6% | -25.6% |
| BRENT | 2024-05-28 | [Oil market braces for OPEC decisions as crude prices climb \| Euronews](https://feedsoft.ai/events/30419-oil-market-braces-for-opec-decisions-as-crude-prices-climb-euronews.md) | -3.9% | +7.3% |
| WTI | 2018-09-27 | [Oil rises as investors fret over Iranian supply gaps](https://feedsoft.ai/events/63232-oil-rises-as-investors-fret-over-iranian-supply-gaps.md) | +6.1% | -7.4% |
| WTI | 2019-09-19 | [Oil prices rise as Saudi supply risks come into focus](https://feedsoft.ai/events/57239-oil-prices-rise-as-saudi-supply-risks-come-into-focus.md) | -3.0% | -8.2% |
| WTI | 2024-11-03 | [Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading](https://feedsoft.ai/events/27307-oil-rises-as-opec-delays-output-hike-election-roils-trading.md) | +1.3% | -2.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/12/02/oil-markets-opec-and-allies-omicron-covid-variant.html

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