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OPEC+ kept in place the 2 million barrel-per-day cut announced in October, which remains effective. Analysts said the cut removed less than the full amount from the market because members already struggled to meet quotas.
Because the actual cut is smaller than headline volumes, real supply tightening is limited, so crude prices may not get a strong lift from the policy.
latimes.comDAVID McHUGH, CATHY BUSSEWITZDec 4, 2022After 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.
