# oil: Oil rises on OPEC supply cuts, but surging US output and economic slowdown weigh - The Economic Times

> Oil rose on March 1 as OPEC supply cuts tightened markets, with WTI at $57.45 and Brent at $66.55. Venezuelan exports fell about 40% since U.S. sanctions in January. Surging U.S. output and global slowdown concerns limited gains.

- Date: 2019-03-01 · published 2019-03-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/60280-oil-oil-rises-on-opec-supply-cuts-but-surging-us-output-and-economic-slowdown
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

OPEC cuts and Venezuelan supply losses support crude, but rising U.S. output and demand worries cap the rally, leaving the price outlook mixed for energy costs in feed production.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-12-03 | [Oil rises on fears about Lebanon, further OPEC+ supply cuts \| Reuters](https://feedsoft.ai/events/27114-oil-rises-on-fears-about-lebanon-further-opec-supply-cuts-reuters.md) | +0.4% | +5.8% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |
| WTI | 2019-05-28 | [Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries](https://feedsoft.ai/events/59242-brent-oil-rises-above-70-as-opec-cuts-us-sanctions-outweigh-trade-war-worries.md) | -8.9% | -1.2% |
| WTI | 2020-01-28 | [Arab News \| China virus forces OPEC to weigh up extension to oil output cuts](https://feedsoft.ai/events/54971-arab-news-china-virus-forces-opec-to-weigh-up-extension-to-oil-output-cuts.md) | -5.7% | -6.2% |
| WTI | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | -1.0% | +3.6% |
| BRENT | 2024-12-03 | [Oil rises on fears about Lebanon, further OPEC+ supply cuts \| Reuters](https://feedsoft.ai/events/27114-oil-rises-on-fears-about-lebanon-further-opec-supply-cuts-reuters.md) | +0.8% | +3.2% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |
| BRENT | 2019-05-28 | [Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries](https://feedsoft.ai/events/59242-brent-oil-rises-above-70-as-opec-cuts-us-sanctions-outweigh-trade-war-worries.md) | -9.0% | -4.9% |

## Sources

- m.economictimes.com: https://m.economictimes.com/markets/commodities/news/oil-rises-on-opec-supply-cuts-but-surging-us-output-and-economic-slowdown-weigh/articleshow/68211368.cms

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