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Iran's Shana news agency published the conclusions of the 38th OPEC+ Ministerial Meeting on December 5, 2024. The meeting extended overall crude production levels through December 31, 2026, and reaffirmed monitoring mechanisms including the JMMC's bimonthly reviews.
It also set a framework for conformity checks based on average production.
Extended quotas through 2026 keep supply restrained, supporting crude benchmarks that feed into energy and logistics costs. Clarity on monitoring reduces the chance of sudden supply surges.
en.shana.irDec 5, 2024After 442 past bullish policy events, Crude Oil (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, Crude Oil (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.
