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The 35th OPEC and non-OPEC Ministerial Meeting set overall crude production at 40.46 mb/d for 2024 and extended the monitoring committee's mandate. The committee will meet every two months and can call additional meetings.
Set production levels and monitoring rules determine future crude supply, which drives energy costs for feed mills and farms.
euro-petrole.comEuropétroleMay 6, 2023After 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.
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.
