# Oil settles up as U.S. producers, refiners assess storm damage

> Oil settled higher as US producers and refiners assessed storm damage. The report notes OPEC+ is set to meet Wednesday on a scheduled 400,000 bpd increase, and Kuwait's oil minister said it could be reconsidered.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/45473-oil-settles-up-as-u-s-producers-refiners-assess-storm-damage
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Storm-related refinery and production outages tighten near-term supply, while the possibility of a paused OPEC+ increase adds upside risk to crude prices and energy costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-hurricane-ida-pounds-us-crude-patch-louisiana-2021-08-30/

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