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OPEC+ agreed to stick to its planned increase of 400,000 barrels per day in February, and Reuters reported oil ending near $80 a barrel. The decision reflected easing concern over a large first-quarter surplus and a wish to give the market consistent guidance.
The planned supply increase is bearish for crude, but the reported price near $80 shows the market absorbing it. Energy cost pressure for feed production stays steady.
reuters.comArathy SomasekharJan 4, 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.
