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OPEC+ kept its existing output policy after its monitoring meeting, with the group still cutting about 5.86 million bpd. It plans a 180,000 bpd increase in December, which was delayed from October after prices slid.
The unchanged schedule leaves a planned supply increase in place, which is a modest bearish factor for crude that feeds through to diesel and energy costs.
reuters.comAlex LawlerOct 2, 2024After 187 past neutral policy events, 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.
