# Oil Markets: Brexit, OPEC supply in focus

> Oil rose about 1% on expectations that OPEC and allies will extend supply cuts into December. A weaker U.S. dollar and short covering ahead of U.S. inventory data also supported prices.

- Date: 2019-10-16 · published 2019-10-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56740-oil-markets-brexit-opec-supply-in-focus
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected OPEC supply curbs and a softer dollar support crude prices, which tend to lift input and freight costs for feed.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2019/10/16/oil-markets-brexit-opec-supply-in-focus.html

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