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OPEC and later non-OPEC producers agree to cut output, ending the 2014–16 oil glut slide.
WikipediaAfter 844 past policy events, Crude Oil (WTI) moved a median +0.6% over 5 sessions (56% higher; middle half -3.0% to +4.1%), and +1.4% over 20.
After 157 past policy events, ULSD / Diesel moved a median +0.4% over 5 sessions (53% higher; middle half -4.4% to +3.3%), and -0.7% over 20.
After 1,419 past policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
OPEC's agreement in Vienna on 2016-11-30 to cut output by about 1.2 million bpd, its first cut since 2008, tightened expected supply and sharply lifted sentiment, which directly drove WTI's roughly 9% same-day jump.
OPEC's agreement in Vienna on 2016-11-30 to cut output by about 1.2 million bpd, its first cut since 2008, tightened expected supply and sharply lifted sentiment, which directly drove WTI's roughly 9% same-day jump.
OPEC's agreement on 2016-11-30 to cut crude output for the first time since 2008 sent crude prices sharply higher, raising the feedstock cost for diesel. The date matches the move exactly, and the agreement directly lifted ULSD prices that same day.
OPEC's agreement on 2016-11-30 to cut crude output for the first time since 2008 sent crude prices sharply higher, raising the feedstock cost for diesel. The date matches the move exactly, and the agreement directly lifted ULSD prices that same day.
