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Three OPEC+ sources told Reuters the group is likely to keep its oil output policy unchanged at its September 1 meeting and continue the planned 400,000 bpd monthly increase. The group had agreed the increases for the next several months.
A continued 400,000 bpd monthly add keeps crude supply rising into a recovering demand market, which caps upside for crude and, through energy costs, feeds into biofuel and freight economics for feed buyers.
reuters.comAug 30, 2021After 175 past neutral policy events, 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, 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.
