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Energy Aspects said OPEC+ will likely wait for financial markets to calm before deciding whether to cut production after crude fell to a 15-month low. Brent was down about 10% that week, and the monitoring committee is next scheduled to meet on April 3.
A possible output cut would tighten supply and lift crude, but the group is expected to hold off until markets stabilize, leaving near-term prices under pressure.
worldoil.comPaul Wallace, Salma El Wardany, BloombergMar 16, 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.
After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% 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.
