Loading…
Goldman Sachs expects OPEC+ production increases to begin in December. The forecast follows the group's decision to delay planned hikes for October and November.
A December start points to a return of supply to the market later in the year, which limits crude price gains. The outlook is a forecast based on a decision already reported.
reuters.comSep 7, 2024After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
