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OPEC+ ministers met in Riyadh after U.S. President Donald Trump called for lower oil prices. The group is holding back about 5.86 million bpd of output after cuts made since 2022, and a planned April production increase follows several earlier delays due to weak demand.
Trump's pressure raises the chance OPEC+ accelerates supply, which would weigh on crude prices. Lower crude costs would also ease diesel and freight expenses for feed producers.
reuters.comYousef SabaJan 28, 2025After 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.
