# OPEC to Swell Investor Gains by Turning Market Upside Down - Bloomberg

> Bloomberg reports that OPEC's production cuts have made oil speculators the most bullish in a decade. Short-term crude prices have risen above later-dated contracts for the first time in two years as cuts drain bloated inventories.

- Date: 2017-02-02 · published 2017-02-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/72662-opec-to-swell-investor-gains-by-turning-market-upside-down-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tightening near-term supply and a shift into backwardation support crude prices, which feed into energy costs for feed production, transport and fertilizer.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-02-02/opec-set-to-swell-investor-gains-by-turning-market-upside-down

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