Loading…
Kuwait's oil minister said OPEC+ must reconsider the 400,000 bpd increase because markets are slowing and COVID-19 is in a fourth wave in some areas. The comments followed a US call for larger output increases to ease rising fuel prices.
A possible halt to OPEC+ supply additions would tighten crude markets and lift energy costs, which in turn raise diesel, freight and processing costs across feed supply chains.
oilprice.comIrina SlavAug 30, 2021After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% 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.
