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Bloomberg reports OPEC and allies are expected to proceed with their planned monthly output increases at the September 1 meeting, as prices rebound from an August slump. A survey found 17 of 22 traders and analysts expected no change to the schedule.
Continued scheduled output increases add steady crude supply, keeping energy input costs contained for feed producers unless demand weakens further.
worldoil.comGrant Smith, Sharon Cho, Jessica SummersAug 27, 2021After 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.
