# Oil slips as more U.S. drilling outweighs OPEC-led cuts - CTRM Center

> Oil prices slipped on Monday as rising US drilling activity offset OPEC-led supply cuts. Brent traded near $52 and WTI near $49.63, after the previous week's drop of about 3 percent.

- Date: 2017-05-29 · published 2017-05-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/71160-oil-slips-as-more-u-s-drilling-outweighs-opec-led-cuts-ctrm-center
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Growing US output limits the price support from OPEC cuts, keeping energy costs soft for biofuel and feed-processing margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- ctrmcenter.com: https://www.ctrmcenter.com/news/energy/oil-slips-u-s-drilling-outweighs-opec-led-cuts/

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