# Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally - TT

> OPEC+ was set to decide whether to extend its historic output curbs, and oil was struggling to hold its rally. U.S. oil-drilling activity fell for an 11th week to its lowest level since before the shale boom. U.S. crude imports from Saudi Arabia surged and lifted inventories.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/52785-uncertainty-about-opec-cuts-has-oil-struggling-to-sustain-rally-tt
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Uncertainty over the length of OPEC+ cuts makes crude direction unclear, which affects diesel and freight costs for feed buyers. Rising U.S. inventories temper the supply tightening from the cuts.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- ttnews.com: https://www.ttnews.com/articles/uncertainty-about-opec-cuts-has-oil-struggling-sustain-rally

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