# Oil: US production could be key to oil prices in 2020, analysts say

> Analysts told CNBC that U.S. oil output growth would be the critical factor for crude prices in 2020. They also named oil demand growth and the OPEC+ agreement, which cut output by an extra 500,000 barrels per day from January 1. They warned of possible sharp corrections.

- Date: 2020-01-02 · published 2020-01-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/55268-oil-us-production-could-be-key-to-oil-prices-in-2020-analysts-say
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations for U.S. supply growth cap how far OPEC+ cuts can lift prices. Energy price direction affects biofuel and freight costs for feed buyers over the year.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2020/01/02/oil-us-production-could-be-key-to-oil-prices-in-2020-analysts-say.html

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