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OPEC+ ministers meet on October 4 in an online Joint Ministerial Monitoring Committee session. Four OPEC+ sources told Reuters the panel is unlikely to change its current output policy.
Brent has climbed toward $100 a barrel, its highest since 2022.
A policy hold keeps the current supply restraint in place while demand is firm, which supports crude and diesel costs for feed transport and grain handling. Higher crude also tends to lift vegetable oil and ethanol-linked prices.
energynow.comSep 30, 2023After 442 past bullish policy events, Crude Oil (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, Crude Oil (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.
