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Reuters analysis says OPEC+ is again deferring its output unwinding, with the next hike now set for April 2025. The group is holding about 5.86 million bpd of cuts to keep prices near $75 a barrel.
The piece also discusses how potential Trump administration policies on Iran sanctions and trade could affect prices.
Continued cuts support crude prices, but the analysis expects weaker global growth from trade policy to be bearish overall. Feed buyers should watch both the supply deferral and demand-side risks for energy costs.
reuters.comClyde RussellDec 5, 2024After 442 past bullish policy events, BRENT moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, WTI moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% 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.
