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Oil posted a record weekly jump on hopes that global producers would agree historic output cuts at a meeting the following week. Optimism was tempered by concern that the cuts would not prevent a supply glut.
Saudi Arabia was set to hold a members' video conference on Monday.
Expectations of large output cuts support crude prices, which feed into energy and input costs for feed. Doubts about whether cuts will offset weak demand limit the sustainability of the rally.
bloomberg.comCatherine Ngai2 abr 2020Tras 626 eventos alcista de geopolítica pasados, Petróleo crudo (WTI) se movió una mediana de +2,1 % en 5 sesiones (62% al alza; mitad central entre -2,3 % y +8,5 %), y +1,6 % en 20.
Tras 656 eventos alcista de geopolítica pasados, Petróleo crudo (Brent) se movió una mediana de +1,9 % en 5 sesiones (63% al alza; mitad central entre -2,7 % y +6,6 %), y +0,7 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Record weekly jump on hopes of historic output cuts at the following week's meeting, directly describing the weekly move.
Record weekly jump on hopes of historic output cuts at the next week's meeting directly reflects the move.
Record weekly jump on hopes of historic output cuts at a following-week meeting, sustaining the rally.
Notes record jump on hopes of historic output cuts at an upcoming meeting, reinforcing the supply-cut expectation driver.
Covers the record jump on hopes of an OPEC+ output cut meeting and the Saudi video conference, reinforcing the supply-cut sentiment.
