# Oil steady, traders on sidelines as OPEC+ talks drag on - The Globe and Mail

> Oil prices steadied on Friday as OPEC+ ministers resumed talks on raising output after the UAE blocked a deal the previous day. Brent settled at $76.17 a barrel and WTI at $75.16, with both benchmarks having risen sharply on Thursday before retreating.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46755-oil-steady-traders-on-sidelines-as-opec-talks-drag-on-the-globe-and-mail
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Uncertainty over whether OPEC+ will add supply or fracture supports crude prices, which feed into diesel and freight costs for feed ingredients and can pull vegetable oil and biofuel prices with them.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-09-13 | [Oil trades below $70 as traders assess supply shortage  \| The National](https://feedsoft.ai/events/63208-oil-trades-below-70-as-traders-assess-supply-shortage-the-national.md) | -0.6% | +4.5% |
| BRENT | 2025-11-29 | [OPEC+ holds oil output steady, agrees capacity mechanism \| Reuters](https://feedsoft.ai/events/21870-opec-holds-oil-output-steady-agrees-capacity-mechanism-reuters.md) | +0.7% | -1.8% |
| BRENT | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.2% | +3.6% |
| BRENT | 2022-12-02 | [OPEC+ decision on oil quotas muddled by Russian sanctions \| S&P Global](https://feedsoft.ai/events/38394-opec-decision-on-oil-quotas-muddled-by-russian-sanctions-s-and-p-global.md) | -12.1% | -2.6% |
| BRENT | 2024-11-28 | [OPEC+ postpones meeting to decide oil production strategy to Dec. 5: Sources](https://feedsoft.ai/events/27303-opec-postpones-meeting-to-decide-oil-production-strategy-to-dec-5-sources.md) | +0.2% | +0.0% |
| WTI | 2018-09-13 | [Oil trades below $70 as traders assess supply shortage  \| The National](https://feedsoft.ai/events/63208-oil-trades-below-70-as-traders-assess-supply-shortage-the-national.md) | +1.0% | +4.0% |
| WTI | 2025-11-29 | [OPEC+ holds oil output steady, agrees capacity mechanism \| Reuters](https://feedsoft.ai/events/21870-opec-holds-oil-output-steady-agrees-capacity-mechanism-reuters.md) | +2.7% | -1.1% |
| WTI | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.1% | +2.3% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-oil-steady-as-us-stockpiles-fall-opec-warns-of-possible-2022-glut/

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