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OPEC+ was set to meet on December 4 to review production quotas, ahead of the EU ban on Russian crude and the G7 price cap. Delegates expected a rollover of current quotas, though a further cut was not ruled out.
Uncertainty over OPEC+ output and Russian crude flows keeps energy prices volatile, which feeds through to biofuel margins and vegetable oil and feed input costs.
spglobal.comHerman Wang, Rosemary GriffinDec 2, 2022After 63 past neutral geopolitics events, BRENT moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, WTI moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
