# Arab News | Oil prices stable as OPEC-led supply cuts tighten market, but some caution remains

> Oil prices were stable early on Tuesday, with Brent at $60.78 a barrel and WTI at $54.05, both close to their highest levels since mid-2015 and February respectively. Analysts were cautious after several strong sessions, citing overbought technical indicators and rising US shale output of about 9.5 million bpd.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/68619-arab-news-oil-prices-stable-as-opec-led-supply-cuts-tighten-market-but-some
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Routine price commentary with no new supply shock; the market remains supported by OPEC-led cuts but capped by US shale growth, so near-term energy cost pressure for feed users is little changed.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- arabnews.com: https://www.arabnews.com/business/oil-prices-stable-as-opec-led-supply-cuts-tighten-market-but-some-caution-remains-1186006

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