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The OPEC Joint Ministerial Monitoring Committee met by videoconference on 1 February 2023, reviewed November and December production data, and reaffirmed commitment to the Declaration of Cooperation through end-2023. The next meeting is set for 3 April 2023.
Reaffirmed compliance with output cuts signals continued supply restraint, which tends to support crude prices and energy input costs.
euro-petrole.comEuropétroleJan 2, 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.
