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Delegates told Reuters that OPEC+ is unlikely to change its planned gradual output increases at the Monday monitoring committee meeting, despite Trump's calls to lower prices. Kazakhstan said the group would discuss Trump's push to raise U.S. production.
Brent had reached almost $83 on January 15 on Russia sanctions concerns.
Holding to the existing plan keeps supply tight relative to Trump's demands, which supports crude prices. Higher energy costs would keep diesel and freight expenses elevated for feed buyers.
energynow.comJan 31, 2025After 175 past neutral policy events, Crude Oil (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, Crude Oil (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.
