# Oil rises as OPEC compliance eclipses boom in U.S. output | Reuters

> Brent and WTI futures settled higher on February 1, 2018, after a survey showed OPEC's supply-cut commitment holding. U.S. crude output had topped 10 million bpd for the first time since 1970, and both benchmarks were near their highest levels since December 2014.

- Date: 2018-02-01 · published 2018-02-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/66658-oil-rises-as-opec-compliance-eclipses-boom-in-u-s-output-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude supports energy costs and biofuel economics, which can lift soybean oil, palm oil and corn-based ethanol margins. The gains were tempered by rising U.S. output.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- arabnews.com: https://www.arabnews.com/business/oil-rises-as-opec-compliance-eclipses-boom-in-us-output-1237461
- reuters.com: https://www.reuters.com/article/business/oil-rises-as-opec-compliance-eclipses-boom-in-us-output-idUSKBN1FL3IZ/

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