Loading…
OPEC and its allies may revisit their plan to revive oil supply if the four largest consuming countries go ahead with a coordinated release of strategic petroleum reserves. India had become the latest major consumer to consider tapping its stockpiles.
If OPEC+ trims output to offset the stockpile releases, the net supply effect is limited and prices could hold up, though the release itself adds near-term barrels that could weigh on crude.
worldoil.comNov 22, 2021After 60 past neutral geopolitics events, WTI moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
After 63 past neutral geopolitics events, BRENT moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% 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.
