# Oil Rises as OPEC Signal on Output Curbs Counters Trade Risk - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow

> Oil rose after signs that OPEC and its allies would extend production cuts beyond June, with Saudi Energy Minister Al-Falih urging the group to stay the course. Gains were limited by rising US inventories and the deteriorating US-China trade relationship. Middle East tensions and involuntary outages in Venezuela and Russia also supported prices.

- Date: 2019-05-21 · published 2019-05-21T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59246-oil-rises-as-opec-signal-on-output-curbs-counters-trade-risk-canadian-energy
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Extended OPEC+ cuts keep crude supply constrained, supporting diesel and energy costs for feed logistics. Trade-war demand worries and rising US stocks limit how far prices can rise.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -1.1% | -4.3% |
| BRENT | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +5.6% | -1.0% |
| BRENT | 2019-01-11 | [Brent Crude Set for Longest-Ever Rally on OPEC, Economic Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11167-brent-crude-set-for-longest-ever-rally-on-opec-economic-outlook-energy-news-top.md) | -0.9% | +0.4% |
| BRENT | 2019-02-12 | [Saudi crude output to fall to 9.8 million bpd in March: Falih - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60520-saudi-crude-output-to-fall-to-9-8-million-bpd-in-march-falih-energy-news-top.md) | +8.0% | +7.2% |
| BRENT | 2024-02-01 | [OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/31567-opec-to-review-oil-cut-extension-in-march-ministers-leave-policy-unchanged.md) | -2.6% | +1.9% |
| WTI | 2019-09-09 | [Oil Rises as New Saudi Minister Signals OPEC+ Cuts to Continue - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57248-oil-rises-as-new-saudi-minister-signals-opec-cuts-to-continue-energy-news-top.md) | -3.0% | -6.5% |
| WTI | 2018-06-22 | [Oil jumps as OPEC agrees to modest output hikes - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11572-oil-jumps-as-opec-agrees-to-modest-output-hikes-energy-news-top-headlines.md) | +11.9% | +7.2% |
| WTI | 2019-01-11 | [Brent Crude Set for Longest-Ever Rally on OPEC, Economic Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/11167-brent-crude-set-for-longest-ever-rally-on-opec-economic-outlook-energy-news-top.md) | -1.1% | +0.4% |

## Sources

- energynow.ca: https://energynow.ca/2019/05/oil-rises-as-opec-signal-on-output-curbs-counters-trade-risk/

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