# Brent Crude, West Texas Intermediate, OPEC Says Oil Demand to Rise - Markets Insider

> OPEC raised its 2018 oil demand growth forecast by 60,000 barrels per day to 1.59 million bpd, citing a healthy world economy. The forecast was reported on February 12, 2018.

- Date: 2018-02-12 · published 2018-02-12T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/66662-brent-crude-west-texas-intermediate-opec-says-oil-demand-to-rise-markets-insider
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A higher demand outlook supports crude prices, which feeds into energy and biofuel costs for feed ingredients. The effect is moderate because the revision is small.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-09-13 | [OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says \| Reuters](https://feedsoft.ai/events/34016-opec-cuts-to-tighten-oil-market-sharply-in-fourth-quarter-iea-says-reuters.md) | +2.6% | -3.3% |
| WTI | 2021-06-30 | [Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder](https://feedsoft.ai/events/46757-oil-rises-on-lower-u-s-stockpiles-demand-recovery-markets-business-recorder.md) | -1.2% | -1.0% |
| WTI | 2023-08-01 | [EIA forecasts crude oil prices will increase through 2024 as demand rises above supply](https://feedsoft.ai/events/35198-eia-forecasts-crude-oil-prices-will-increase-through-2024-as-demand-rises-above.md) | +0.2% | -1.6% |
| WTI | 2021-10-11 | [OPEC+ crude oil production rises in September, but remains below target: Platts survey](https://feedsoft.ai/events/44721-opec-crude-oil-production-rises-in-september-but-remains-below-target-platts.md) | +3.6% | +2.2% |
| WTI | 2021-08-25 | [U.S. crude inventories fall as demand hits highest since March 2020 - EIA \| Reuters](https://feedsoft.ai/events/11407-u-s-crude-inventories-fall-as-demand-hits-highest-since-march-2020-eia-reuters.md) | +1.4% | +7.1% |
| BRENT | 2023-09-13 | [OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says \| Reuters](https://feedsoft.ai/events/34016-opec-cuts-to-tighten-oil-market-sharply-in-fourth-quarter-iea-says-reuters.md) | +2.6% | -3.9% |
| BRENT | 2025-07-01 | [OPEC trims 2025 oil demand growth estimate but hikes ‘call’ on its crude](https://feedsoft.ai/events/24393-opec-trims-2025-oil-demand-growth-estimate-but-hikes-call-on-its-crude.md) | +4.2% | +3.8% |
| BRENT | 2021-06-30 | [Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder](https://feedsoft.ai/events/46757-oil-rises-on-lower-u-s-stockpiles-demand-recovery-markets-business-recorder.md) | +0.1% | -0.5% |

## Sources

- markets.businessinsider.com: https://markets.businessinsider.com/commodities/news/brent-crude-west-texas-intermediate-opec-says-oil-demand-to-rise-2018-2-1015521515

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