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Saudi Arabia and Russia led OPEC+ members in agreeing to keep production levels steady through the end of March. The decision was ratified despite an unfolding situation that the group said was too early to gauge a response to.
Holding output flat through March keeps supply stable in a market already facing a surplus, so crude prices have less support from new cuts. Lower energy costs ease margins for feed producers.
bloomberg.comGrant Smith, Ben Bartenstein, Salma El Wardany, Nayla Razzouk, Fiona MacDonaldJan 4, 2026After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% 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.
