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Kazakhstan has opened a debate over its 2025 OPEC+ oil quota. At the June meeting, OPEC+ faces the decision on whether to extend 2.2 million bpd of voluntary cuts beyond their June expiry.
The quota debate signals whether the group will keep supply restrained, but it is still a discussion without a decision, so price effects are modest.
reuters.comAlex LawlerMay 14, 2024After 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.
After 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.
