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OPEC+ will raise output by 432,000 bpd from May 2022 under a revised plan that changes baseline production levels for Russia, Saudi Arabia, the UAE, Iraq and Kuwait. The change replaces the earlier 400,000 bpd framework.
Revised baselines allow members to pump more in later months, keeping crude supply growing modestly. The added barrels cap upside in oil prices, which affects energy and input costs for feed buyers.
tass.comMar 31, 2022After 210 past bearish policy events, BRENT moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, WTI moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
