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OPEC+ faces a decision on its planned output increase, with total production scheduled to rise by about 180,000 b/d each month in the fourth quarter of 2024. The plan then moves to 210,000 b/d monthly in the first nine months of 2025.
A steady schedule of monthly increases adds supply over the next year and pressures crude prices. Any pause would tighten the market and support energy costs.
reuters.comJohn KempAug 22, 2024After 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.
After 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.
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.
