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OPEC ministers voted to stop using IEA production data for quota compliance and added Wood Mackenzie and Rystad as secondary sources. The decision came minutes after OPEC+ approved a 432,000 bpd rise for May.
Changes to the data used to measure output compliance affect how reported supply is judged, adding uncertainty to crude price forecasts. The rift between OPEC and consuming nations keeps the supply outlook unsettled.
spglobal.comHerman Wang, Rosemary Griffin, Nick ColemanMar 31, 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.
