# Oil gains on OPEC outlook that U.S. output growth will slow

> Oil futures reversed early losses on Friday after OPEC sources said the group expected limited U.S. output growth this year despite higher prices. Brent rose to $73.47 and WTI settled at $71.64 after both benchmarks hit multi-year highs earlier in the week.

- Date: 2021-06-18 · published 2021-06-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/46761-oil-gains-on-opec-outlook-that-u-s-output-growth-will-slow
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

OPEC's view that U.S. shale growth will be limited supports the group's ability to hold prices up, keeping crude and energy input costs elevated until a possible 2022 shale rebound.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2021/06/18/oil-markets-dollar.html

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