# Arab News | Baku heavyweights choose consensus over conflict

> Oil prices have posted their biggest rally since 2009, rising more than 30% since December, with Brent trading above $67 a barrel. The rally reflects OPEC+ cuts of 1.2 million bpd, over-compliance by Saudi Arabia and a Venezuelan grid blackout that disrupted production. US sanctions on Iran add uncertainty.

- Date: 2019-03-18 · published 2019-03-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/60022-arab-news-baku-heavyweights-choose-consensus-over-conflict
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A sustained crude rally raises diesel, freight and fertilizer costs and supports vegetable oil and biofuel prices, which feeds into feed input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- arabnews.com: https://www.arabnews.com/opinion/baku-heavyweights-choose-consensus-over-conflict-1468741

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