Oil prices rise on signals OPEC might cut output
/ Our Today
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Oil prices ended higher on Friday (August 26) boosted by signals from Saudi Arabia that OPEC could cut output, Brent crude futures rose US$1.65 to settle at US$100.99 a barrel.
US West Texas Intermediate (WTI) crude futures rose 54 cents to settle at US$93.06 a barrel. Both contracts rose and fell by US$1 throughout the session.
Overall, Brent gained 4.4 per cent for the week, while WTI was set to rise 2.5 per cent. The United Arab Emirates became the latest OPEC+ member to state it is aligned with Saudi Arabia’s thinking on crude markets, a source with knowledge of the matter told Reuters.
Last Monday, Saudi Arabia flagged the possibility of production cuts to offset the return of Iranian barrels to oil markets should Tehran clinch a nuclear deal with the West.
Brent oil price forecast for tomorrow, this week and month
Oil Price Forecast By Day
| Date | Weekday | Low | High | Price |
| 08/29 | Monday | 100.29 | 103.35 | 101.82 |
| 08/30 | Tuesday | 98.44 | 101.44 | 99.94 |
| 08/31 | Wednesday | 99.97 | 103.01 | 101.49 |
| 09/01 | Thursday | 103.43 | 106.58 | 105.00 |
| 09/02 | Friday | 104.37 | 107.55 | 105.96 |
| 09/05 | Monday | 103.72 | 106.88 | 105.30 |
| 09/06 | Tuesday | 100.78 | 103.84 | 102.31 |
| 09/07 | Wednesday | 103.13 | 106.27 | 104.70 |
| 09/08 | Thursday | 103.68 | 106.84 | 105.26 |
| 09/09 | Friday | 103.78 | 106.94 | 105.36 |
| 09/12 | Monday | 105.79 | 109.01 | 107.40 |
| 09/13 | Tuesday | 106.99 | 110.25 | 108.62 |
| 09/14 | Wednesday | 103.28 | 106.42 | 104.85 |
| 09/15 | Thursday | 100.21 | 103.27 | 101.74 |
| 09/16 | Friday | 100.19 | 103.25 | 101.72 |
| 09/19 | Monday | 95.18 | 98.08 | 96.63 |
| 09/20 | Tuesday | 97.07 | 100.03 | 98.55 |
| 09/21 | Wednesday | 97.40 | 100.36 | 98.88 |
| 09/22 | Thursday | 100.05 | 103.09 | 101.57 |
| 09/23 | Friday | 99.77 | 102.81 | 101.29 |
| 09/26 | Monday | 101.04 | 104.12 | 102.58 |
| 09/27 | Tuesday | 100.68 | 103.74 | 102.21 |
| 09/28 | Wednesday | 98.14 | 101.12 | 99.63 |
| 09/29 | Thursday | 97.57 | 100.55 | 99.06 |
WTI oil price forecast for tomorrow, this week and month
Oil Price Forecast By Day
| Date | Weekday | Low | High | Price |
| 08/29 | Monday | 91.53 | 94.31 | 92.92 |
| 08/30 | Tuesday | 89.27 | 91.99 | 90.63 |
| 08/31 | Wednesday | 90.80 | 93.56 | 92.18 |
| 09/01 | Thursday | 93.99 | 96.85 | 95.42 |
| 09/02 | Friday | 94.70 | 97.58 | 96.14 |
| 09/05 | Monday | 94.21 | 97.07 | 95.64 |
| 09/06 | Tuesday | 90.59 | 93.35 | 91.97 |
| 09/07 | Wednesday | 92.98 | 95.82 | 94.40 |
| 09/08 | Thursday | 94.04 | 96.90 | 95.47 |
| 09/09 | Friday | 94.09 | 96.95 | 95.52 |
| 09/12 | Monday | 96.17 | 99.09 | 97.63 |
| 09/13 | Tuesday | 96.96 | 99.92 | 98.44 |
| 09/14 | Wednesday | 93.63 | 96.49 | 95.06 |
| 09/15 | Thursday | 90.71 | 93.47 | 92.09 |
| 09/16 | Friday | 90.49 | 93.25 | 91.87 |
| 09/19 | Monday | 86.60 | 89.24 | 87.92 |
| 09/20 | Tuesday | 87.49 | 90.15 | 88.82 |
| 09/21 | Wednesday | 86.76 | 89.40 | 88.08 |
| 09/22 | Thursday | 89.10 | 91.82 | 90.46 |
| 09/23 | Friday | 88.27 | 90.95 | 89.61 |
| 09/26 | Monday | 89.53 | 92.25 | 90.89 |
| 09/27 | Tuesday | 88.15 | 90.83 | 89.49 |
| 09/28 | Wednesday | 83.74 | 86.30 | 85.02 |
| 09/29 | Thursday | 82.74 | 85.26 | 84.00 |
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