# Donald Trump: Oil prices drop on oversupply concerns as OPEC output increases in July, ETEnergyworld

> Brent futures fell 0.3% to $74.72 on July 31 after a Reuters survey showed OPEC output rose to a 2018 high in July. Brent was set for its biggest monthly loss since July 2016, and Trump signaled willingness to meet Iran's Rouhani without preconditions.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64204-donald-trump-oil-prices-drop-on-oversupply-concerns-as-opec-output-increases-in
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Monthly crude losses lower diesel and fertilizer costs for feed producers. Easing Iran tensions reduce geopolitical risk premium, reinforcing downside pressure.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- daily.energybulletin.org: https://daily.energybulletin.org/2018/07/oil-prices-drop-on-oversupply-concerns-as-opec-output-increases-in-july/
- energy.economictimes.indiatimes.com: https://energy.economictimes.indiatimes.com/news/oil-and-gas/oil-prices-drop-on-oversupply-concerns-as-opec-output-increases-in-july/65210371

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