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OPEC said it will hold a virtual Joint Ministerial Monitoring Committee meeting on February 1 to review implementation of its latest oil output cut. The group reaffirmed its commitment to unity and market stability after Angola announced its exit.
The reaffirmed commitment signals that the group will keep its cuts in place, which supports crude prices.
energyconnects.comChiranjib SenguptaJan 4, 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.
