Since January 2019, the international oil price finally ended the trend of 30% decline at the end of 2018, and showed a trend of continuous rise. By the close of trading on January 18, U.S. crude and Brent crude had surged again to multi-month height, with WTI crude at $53.98 a barrel, up 4.43% every week. Brent crude was at $62.58 a barrel, up 3.28% every week. International oil prices have risen 18% since January.

International oil prices ended the decline, mainly because OPEC production cuts had a significant effect. Data showed that global oil supplies fell by 950,000 barrels a day in December. On January 18, OPEC also called on countries involved in the production cuts to double them to ensure a balanced oil market.