# Oil advances on report OPEC, allies to discuss deepening cuts

> Oil futures climbed more than 2% after a report that OPEC and allies will discuss deeper supply cuts at their December meeting. U.S.-China trade negotiations were also seen progressing.

- Date: 2019-10-22 · published 2019-10-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56739-oil-advances-on-report-opec-allies-to-discuss-deepening-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Prospects of deeper OPEC cuts support crude prices, which influence diesel and transport costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- worldoil.com: https://www.worldoil.com/news/2019/10/22/oil-advances-on-report-opec-allies-to-discuss-deepening-cuts

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