
A Reuters preview reported that an OPEC+ panel meeting was expected to make no further policy changes after the surprise output hike. Brent closed 7% lower at $65.58 a barrel on Friday.
Expectations of no additional policy change leave the added supply in place, keeping crude under pressure. Lower energy prices reduce the cost-competitiveness of biofuels and weigh on vegetable oil values.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
Brent closed 7% lower at $65.58 after the surprise OPEC+ hike, which gives the Friday price context.