# Oil under pressure from OPEC talks on raising output

> US crude futures fell nearly 2% while Brent edged higher as oil reacted to OPEC talks on raising output. An EIA report showed a US inventory drawdown, and the dollar index dipped.

- Date: 2018-05-31 · published 2018-05-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/65175-oil-under-pressure-from-opec-talks-on-raising-output
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected OPEC supply increases weigh on crude, but the inventory drawdown offsets some pressure. Energy costs for feed producers remain near current levels.

## Read by commodity

- WTI: bearish ▼
- BRENT: neutral

## Sources

- economies.com: https://www.economies.com/commodities/oil-news/oil-under-pressure-from-opec-talks-on-raising-output-23261

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