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OPEC+ confirmed its June 4 policy meeting will be held in person in Vienna, according to four sources. Brent fell about 4% toward $72 a barrel amid concerns over economic growth and rate hikes.
The meeting format does not change supply, but the falling price reflects weak demand expectations that pressure energy costs.
agbi.comReutersMay 4, 2023After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
