# Oil prices edge up on OPEC-led supply cuts, lower US drilling activity | Daily FT

> Oil edged up on Monday as OPEC and Russia supply cuts continued and U.S. drilling fell, with four rigs cut in the week to Jan. 11 to 873. Brent traded near $60.75 and WTI near $51.81.

- Date: 2019-01-14 · published 2019-01-14T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/61246-oil-prices-edge-up-on-opec-led-supply-cuts-lower-us-drilling-activity-daily-ft
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply cuts and lower U.S. drilling support crude prices, but a slowing world economy limits demand and caps the upside. Crude moves feed into diesel and biofuel costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- ft.lk: https://www.ft.lk/international/Oil-prices-edge-up-on-OPEC-led-supply-cuts-lower-US-drilling-activity/49-670820

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