# Oil prices fall on signs of rising supply, economy worries

> Oil prices fell on signs of rising supply and concerns about a global economic slowdown. U.S. crude inventories rose for a sixth straight week, and OPEC October output reached its highest since 2016. Brent was down 8.8 percent and WTI 10.9 percent for October.

- Date: 2018-11-01 · published 2018-11-01T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9157-oil-prices-fall-on-signs-of-rising-supply-economy-worries
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising OPEC and U.S. output plus inventory builds signal oversupply, a bearish signal for crude and energy-linked costs, while weaker demand expectations reinforce the downside.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-01 | 5 | -7.1% | -2.8 | Rising US inventories for a sixth week, OPEC output at its highest since 2016 and growth worries directly drove Brent lower in the window ending Nov 1. |
| BRENT | 2018-11-01 | 1 | -4.8% | -3.7 | Same-day rising U.S. inventories for a sixth week, OPEC output at a 2016 high and slowdown worries add to the supply-glut and demand narrative. |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/oil-prices-fall-on-signs-of-rising-supply-economy-worries-118110100553_1.html

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