◂ Event Timeline

Jun 1, 2023POLICYGlobal

What have OPEC+ producers said ahead of June oil policy meeting?

OPEC+ producers are set to meet on June 4 in Vienna to decide whether to further curtail crude output. The group surprised markets in April with additional cuts that lifted prices.

WHY IT MATTERS

Any extension of cuts would tighten crude supply and could lift diesel and energy costs for feed producers and transporters. Absent a decision, the outlook stays uncertain.

AFFECTSCrude Oil (Brent)◆

SOURCE
reuters.comReutersJun 1, 2023

Price reaction & history

Crude Oil (Brent)◆neutralSO FAR1d +2.6%5d +6.3%20d +2.1%

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.

Jan 29, 2024No changes to oil production policy expected at OPEC+ meeting-6.0%
May 28, 2025OPEC+ holds oil quotas ahead of July production review+3.7%
Feb 5, 2025MEED | Opec+ decides to adhere to oil production policy+1.2%
Jul 18, 2024OPEC+ unlikely to change oil output policy at Aug 1 JMMC meeting, sources say | Reuters-3.6%
Jul 30, 2024OPEC+ likely to stick to output policy at Aug 1 JMMC meeting-4.3%

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.

Crude Oil (Brent) BRENT · GP ▸

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