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Investors bought the equivalent of 47 million barrels of petroleum-related futures and options in the week to October 14 after OPEC+ announced a 2 million bpd output target cut from November. The inflows followed the October 5 decision.
Renewed fund buying signals stronger crude price support from the OPEC+ cut, which keeps energy input costs elevated for feed makers.
reuters.comJohn KempOct 17, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
