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OPEC+ members said they would proceed with a plan to unwind 2.2 million bpd of voluntary cuts starting April 1, with the increase subject to pausing or reversal. Crude prices fell, with Brent slipping below $70 a barrel amid US and Chinese tariffs and retaliatory measures.
Tariff-driven demand worries combined with a supply increase push crude lower, which affects energy and transport costs in feed supply chains. Retaliatory tariffs on US farm goods also weigh on feed demand.
ogj.comMar 4, 2025After 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.
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.
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.
