
OPEC+ plans to hold its Joint Ministerial Monitoring Committee in early February to review production agreements, with no date yet set. The report notes the alliance cut about 2.2 million bpd for the current quarter, and Brent traded near $76 at the start of 2024.
The scheduled review keeps the group's output cuts in focus, which supports crude price stability in the near term.
After 175 past neutral policy events, Crude Oil (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, Crude Oil (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.