Loading…
OPEC+ agreed on April 5 to raise oil output quotas by 206,000 barrels per day for May. Key members cannot actually lift production because of the US-Israeli war with Iran and the effective closure of the Strait of Hormuz.
The quota increase is largely on paper and represents under 2% of the disrupted supply, so it does little to ease crude tightness while Hormuz remains shut. Crude and energy-linked feed costs stay supported by the disruption.
reuters.comOlesya Astakhova, Alex Lawler, Ahmad GhaddarApr 5, 2026After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
