# Oil slips on OPEC uncertainty after posting best month since May

> Oil fell about 1% on Tuesday after posting its best month since May, as investors awaited OPEC+ direction. Brent settled 0.6% lower at $47.42 and WTI slid 1.74% to $44.55 after the group delayed its output talks.

- Date: 2020-12-01 · published 2020-12-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/49831-oil-slips-on-opec-uncertainty-after-posting-best-month-since-may
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The delay in OPEC+ talks removed the expected supply cut rollover, leaving crude prices sensitive to the outcome. Lower crude reduces biofuel demand support for vegetable oils.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2020/12/01/oil-markets-opec-coronavirus.html

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