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Four sources told Reuters that OPEC+ could delay its planned 180,000 bpd December output increase by a month or more. The group had already postponed the October increase because of falling prices.
A decision could come as early as the following week.
A further delay would keep supply tighter than scheduled amid soft demand, supporting crude prices and the energy costs that feed into ingredient and freight markets.
investing.comOct 30, 2024
reuters.comAlex LawlerNov 1, 2024After 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.
After 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.
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.
