# Texas freeze helps rival oil exporters like Saudi Arabia 'tremendously,' may influence OPEC decisions

> The Texas freeze knocked about 4 million barrels per day off U.S. output, with analysts estimating 18 to 40 million barrels lost. Brent rose more than $6 a barrel since mid-February, and rival exporters such as Saudi Arabia are expected to gain revenue and possibly export more.

- Date: 2021-03-01 · published 2021-03-01T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/48812-texas-freeze-helps-rival-oil-exporters-like-saudi-arabia-tremendously-may
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lost U.S. output and a higher crude price lift fuel and energy costs, and may shift OPEC decisions on supply, which affects feed input prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-12-30 | [Oil rises on diesel demand boost in sparse holiday trade \| Reuters](https://feedsoft.ai/events/27157-oil-rises-on-diesel-demand-boost-in-sparse-holiday-trade-reuters.md) | +3.8% | +4.4% |
| BRENT | 2025-01-09 | [Oil settles up 1% as cold weather in US, Europe drives winter fuel demand \| Reuters](https://feedsoft.ai/events/10347-oil-settles-up-1-as-cold-weather-in-us-europe-drives-winter-fuel-demand-reuters.md) | +7.8% | -2.7% |
| BRENT | 2021-02-23 | [Oil producers eye long road to recovery as Texas begins to thaw](https://feedsoft.ai/events/48811-oil-producers-eye-long-road-to-recovery-as-texas-begins-to-thaw.md) | -1.3% | -1.1% |
| BRENT | 2026-01-16 | [Oil prices rise as supply risk remain in focus](https://feedsoft.ai/events/11394-oil-prices-rise-as-supply-risk-remain-in-focus.md) | -0.3% | +5.7% |
| BRENT | 2021-08-30 | [Ida update: oil markets open higher; ALAN gives guidance - FreightWaves](https://feedsoft.ai/events/45745-ida-update-oil-markets-open-higher-alan-gives-guidance-freightwaves.md) | +0.5% | +7.3% |
| WTI | 2024-12-30 | [Oil rises on diesel demand boost in sparse holiday trade \| Reuters](https://feedsoft.ai/events/27157-oil-rises-on-diesel-demand-boost-in-sparse-holiday-trade-reuters.md) | +4.2% | +4.2% |
| WTI | 2025-01-09 | [Oil settles up 1% as cold weather in US, Europe drives winter fuel demand \| Reuters](https://feedsoft.ai/events/10347-oil-settles-up-1-as-cold-weather-in-us-europe-drives-winter-fuel-demand-reuters.md) | +9.1% | -4.0% |
| WTI | 2021-02-23 | [Oil producers eye long road to recovery as Texas begins to thaw](https://feedsoft.ai/events/48811-oil-producers-eye-long-road-to-recovery-as-texas-begins-to-thaw.md) | -1.7% | -0.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/02/26/texas-freeze-helps-rival-oil-exporters-like-saudi-arabia-opec-members.html

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