# Oil steady near $41 before OPEC+ meets to assess state of market - Moneyweb

> Oil traded near $41 a barrel in New York ahead of an OPEC+ monitoring committee meeting on Oct 19. Demand concerns from renewed coronavirus infections and additional Libyan supply were highlighted.

- Date: 2020-10-19 · published 2020-10-19T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/50801-oil-steady-near-41-before-opec-meets-to-assess-state-of-market-moneyweb
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stalling demand and expected supply increases point to pressure on crude prices, which influences energy and input costs for feed production. The story describes a steady market before a scheduled meeting.

## Read by commodity

- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-05-26 | [Oil holds steady; market awaits clarity on OPEC+ next move](https://feedsoft.ai/events/24837-oil-holds-steady-market-awaits-clarity-on-opec-next-move.md) | +0.9% | +4.3% |
| WTI | 2021-09-10 | [Arab News \| OPEC may cut demand forecast; US and China release oil from strategic reserves: Market wrap](https://feedsoft.ai/events/45237-arab-news-opec-may-cut-demand-forecast-us-and-china-release-oil-from-strategic.md) | +6.5% | +14.9% |
| WTI | 2017-01-19 | [Column - OPEC output cuts boost appeal of light crude, but market yet to respond: Russell](https://feedsoft.ai/events/73134-column-opec-output-cuts-boost-appeal-of-light-crude-but-market-yet-to-respond.md) | +2.4% | +3.9% |
| WTI | 2017-04-18 | [Why boom-bust oil prices may be here to stay](https://feedsoft.ai/events/71676-why-boom-bust-oil-prices-may-be-here-to-stay.md) | -6.9% | -7.2% |
| WTI | 2026-04-01 | [How Japan Can Use the Oil Market to Support the Yen](https://feedsoft.ai/events/20404-how-japan-can-use-the-oil-market-to-support-the-yen.md) | -6.6% | +6.7% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/oil-steady-near-41-before-opec-meets-to-assess-state-of-market/

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