Loading…
OPEC+ chose not to cut production on Sunday at a virtual meeting led by Saudi Arabia and Russia, as gasoline prices kept falling. The group kept output steady rather than trying to halt the price slide.
Holding output flat leaves supply unchanged while demand worries persist, so crude prices may stay under pressure, lowering diesel and energy costs for feed logistics.
washingtonpost.comEvan HalperDec 4, 2022After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 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.
After 21 past bearish policy events, ULSD / Diesel moved a median -2.4% over 5 sessions (38% higher; middle half -6.5% to +4.7%), and -1.1% 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.
