# Oil prices rise as OPEC pledges decision on supply | Financial Post

> Oil prices rose on October 10 after OPEC Secretary-General Barkindo said the group could act to balance markets and would decide on 2020 supply in December. Brent settled up 1.3% at $59.10 and WTI rose 1.8% to $53.55.

- Date: 2019-10-10 · published 2019-10-10T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56468-oil-prices-rise-as-opec-pledges-decision-on-supply-financial-post
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Signals of possible OPEC+ supply action support crude prices, which affect diesel and energy costs across feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-11-09 | [Oil rises as Biden wins, OPEC+ signals deal can be tweaked \| Financial Post](https://feedsoft.ai/events/11796-oil-rises-as-biden-wins-opec-signals-deal-can-be-tweaked-financial-post.md) | +8.7% | +26.9% |
| BRENT | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | +1.5% | -6.3% |
| BRENT | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -1.4% | +5.4% |
| BRENT | 2019-06-30 | [Oil prices edge up on hopes of supply cuts extension by OPEC](https://feedsoft.ai/events/58762-oil-prices-edge-up-on-hopes-of-supply-cuts-extension-by-opec.md) | -4.2% | -6.1% |
| BRENT | 2016-11-30 | [Oil price rises sharply as Opec members hint at deal to limit production](https://feedsoft.ai/events/8570-oil-price-rises-sharply-as-opec-members-hint-at-deal-to-limit-production.md) | +16.7% | +22.1% |
| WTI | 2020-11-09 | [Oil rises as Biden wins, OPEC+ signals deal can be tweaked \| Financial Post](https://feedsoft.ai/events/11796-oil-rises-as-biden-wins-opec-signals-deal-can-be-tweaked-financial-post.md) | +8.0% | +23.5% |
| WTI | 2017-03-01 | [Oil prices rise as OPEC production cut trims supply  \| Globalnews.ca](https://feedsoft.ai/events/72179-oil-prices-rise-as-opec-production-cut-trims-supply-globalnews-ca.md) | -2.2% | -10.4% |
| WTI | 2019-02-01 | [Oil Prices Rise As Saudis Pledge Deeper Cuts](https://feedsoft.ai/events/61264-oil-prices-rise-as-saudis-pledge-deeper-cuts.md) | -2.1% | +6.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/oil-prices-rise-as-opec-pledges-decision-on-supply

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