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OPEC+, led by Saudi Arabia and Russia, will go ahead with a 138,000 barrel-per-day output increase in April, according to a group statement. The move follows a surprise decision that sent crude tumbling and is the first of a series of monthly hikes.
A sustained series of monthly supply increases weighs on crude prices, which lowers input costs for energy and fertilizer but pressures oil-linked commodities. The market is reacting to expected supply growth.
bloomberg.comGrant Smith, Fiona MacDonald, Salma El WardanyMar 3, 2025After 215 past bearish policy events, WTI moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, BRENT moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), 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.
