Loading…
OPEC+ announced voluntary output cuts for early 2024, with no group-wide cut agreed. Analysts said the outcome fell short of expectations, and Brazil was invited to join the group without taking on cut obligations.
Voluntary, uncoordinated cuts leave doubt about how much supply actually comes off, so crude may hold support but with less conviction. Crude costs feed into freight, fertilizer and energy-linked feed inputs.
reuters.comRobert HarveyNov 30, 2023After 442 past bullish policy events, BRENT moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, WTI moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% 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.
