
Bloomberg reported that OPEC+ delegates expect to continue their plan to keep oil production steady at next month's meeting. The group is dealing with a global surplus and a series of geopolitical risks.
Expectations of no output change keep supply flat, so crude has little new support from the producer side. Prices stay sensitive to geopolitical headlines.
After 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.