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Oil prices climbed over 2% on Nov 20 on expectations that OPEC would deepen cuts. Prices had fallen almost 20% since late September as US output held at record highs and demand concerns grew, especially from China.
Expected OPEC cuts support crude, but record US supply and China demand worries cap prices, which matters for diesel costs and biofuel margins.
reuters.comErwin SebaNov 20, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
