# Oil prices dip as rising US output offsets OPEC-led cuts - The HinduBusinessLine

> Oil prices dipped as rising US drilling offset OPEC-led output cuts of about 1.8 million bpd. Brent was near $55.16 a barrel and WTI near $52.44, both down from January peaks. The Brent premium over WTI widened to over $2.7 a barrel.

- Date: 2017-01-31 · published 2017-01-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/73132-oil-prices-dip-as-rising-us-output-offsets-opec-led-cuts-the-hindubusinessline
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising US shale output limits the upside from OPEC cuts, which weighs on crude and diesel costs for feed transport and processing. A wider Brent-WTI spread points to a tighter global market than in the US.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/oil-prices-dip-as-rising-us-output-offsets-opec-led-cuts/article64301250.ece

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