# Oil Rises on Signs of U.S. Supply Drop, OPEC’s Shale Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Oil rose for a second day after API data showed a 541,000-barrel drop in U.S. crude inventories. OPEC Secretary-General Barkindo said U.S. shale output may be revised down going into 2020 and that a U.S.-China deal could lift demand. The EIA raised its shale production forecast for next year.

- Date: 2019-11-14 · published 2019-11-14T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/56235-oil-rises-on-signs-of-u-s-supply-drop-opec-s-shale-outlook-energy-news-top
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tighter US inventories and a possible shale slowdown support crude prices. A demand boost from a trade deal would add further support.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-06-29 | [Supply risks to bolster oil; OPEC unlikely to fill deficit - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/64685-supply-risks-to-bolster-oil-opec-unlikely-to-fill-deficit-energy-news-top.md) | +0.5% | -6.5% |
| WTI | 2017-12-12 | [SHORT-TERM ENERGY OUTLOOK - See the December 12th Report HERE: U.S. Energy Information Administration - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/67658-short-term-energy-outlook-see-the-december-12th-report-here-u-s-energy.md) | -1.2% | +9.8% |
| WTI | 2019-01-17 | [Oil up on OPEC output cuts, hopes of easing U.S.-China trade tensions - Global Energy Network](https://feedsoft.ai/events/61244-oil-up-on-opec-output-cuts-hopes-of-easing-u-s-china-trade-tensions-global.md) | +0.7% | +3.3% |
| WTI | 2022-06-28 | [US soyabean oil prices rise due to tight supply and surging energy…](https://feedsoft.ai/events/41032-us-soyabean-oil-prices-rise-due-to-tight-supply-and-surging-energy.md) | -9.0% | -12.6% |
| WTI | 2017-10-17 | [EIA Short-Term Energy Outlook - Fuels Market News](https://feedsoft.ai/events/68641-eia-short-term-energy-outlook-fuels-market-news.md) | +0.1% | +9.5% |
| BRENT | 2018-06-29 | [Supply risks to bolster oil; OPEC unlikely to fill deficit - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/64685-supply-risks-to-bolster-oil-opec-unlikely-to-fill-deficit-energy-news-top.md) | +0.2% | -3.3% |
| BRENT | 2017-12-12 | [SHORT-TERM ENERGY OUTLOOK - See the December 12th Report HERE: U.S. Energy Information Administration - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/67658-short-term-energy-outlook-see-the-december-12th-report-here-u-s-energy.md) | -1.9% | +6.7% |
| BRENT | 2019-01-17 | [Oil up on OPEC output cuts, hopes of easing U.S.-China trade tensions - Global Energy Network](https://feedsoft.ai/events/61244-oil-up-on-opec-output-cuts-hopes-of-easing-u-s-china-trade-tensions-global.md) | +0.9% | +4.8% |

## Sources

- energynow.com: https://energynow.com/2019/11/oil-rises-on-signs-of-u-s-supply-drop-opecs-shale-outlook/

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