Loading…
Energy Intelligence expects OPEC+ to approve a 432,000 bpd increase for June at its May 5 meeting. It notes the group produced 1.45 million bpd below its collective target in March, with Russian output declines accelerating.
Persistent underproduction and Russian declines mean actual supply additions fall short of headline increases, supporting crude prices.
energyintel.comAuthor Amena Bakr, Dubai Editor Paul MerolliApr 28, 2022After 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.
After 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.
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.
