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Two OPEC+ delegates told CNBC the alliance is tightening its focus on member compliance with output pledges. Iraq, Kazakhstan and Russia have been cited for exceeding quotas, and eight members postponed their voluntary-cut unwinding to December.
Stronger enforcement of quotas could tighten supply and support prices, but overproduction has repeatedly undermined the group's credibility. The outcome for crude prices remains uncertain.
cnbc.comRuxandra IordacheSep 27, 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.
After 175 past neutral policy events, BRENT moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% 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.
