# OPEC Optimism Lifts Oil Prices

> Oil prices edged higher after OPEC announced the date of its December meeting, reviving optimism about supply restraint. The IEA said it sees ample supply from slowing growth, especially in China, and expects U.S. output to drive most supply growth. The EIA raised its U.S. production forecast for 2019 and 2020.

- Date: 2019-12-01 · published 2019-12-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56234-opec-optimism-lifts-oil-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply-cut expectations support prices, while rising U.S. output and weak Chinese growth cap the upside. The balance between these forces determines energy costs for feed production and transport.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/OPEC-Optimism-Lifts-Oil-Prices.html

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