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OPEC+ postponed its meeting on production strategy from Dec. 1 to Dec.
5, according to delegate sources. The coalition is operating three sets of output cuts amid uncertain demand.
Uncertainty over whether OPEC+ will resume supply increases keeps crude prices volatile, affecting energy and input costs across the feed chain.
cnbc.comRuxandra IordacheNov 28, 2024After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% 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.
