# Oil rises as OPEC, partners discuss supply cut

> US crude rose 1% to settle at $56.25 on Nov 14 after a record 12-session losing streak, as OPEC and allies discussed cutting output by up to 1.4 million bpd. Brent rose to about $65 after falling to an eight-month low the previous day. Both benchmarks remain more than 20% below early-October levels.

- Date: 2018-11-14 · published 2018-11-14T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/62216-oil-rises-as-opec-partners-discuss-supply-cut
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The prospect of OPEC-plus supply cuts is a support for energy prices, which in turn firms biofuel margins and soyoil and palm oil values. Persistent weakness in crude still undercuts the energy-linked cost base for feed and ag inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2018/11/14/oil-markets-crude-supply-global-economy-in-focus.html
- moneycontrol.com: https://www.moneycontrol.com/news/business/oil-rebounds-from-steep-sell-off-as-opec-partners-discuss-supply-cut-3174861.html

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