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The Joint Ministerial Monitoring Committee of OPEC+ reaffirmed its commitment to existing production agreements on February 3. Saudi Arabia and the group are facing pressure from US President Trump to increase output.
Analysis of how Saudi and Russian choices could play out does not itself change supply, so the near-term price effect is limited.
meed.comColin ForemanFeb 5, 2025After 175 past neutral policy events, BRENT moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.
After 187 past neutral policy events, WTI moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% 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.
