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OPEC and allies confirmed plans to restore 2.1 million barrels per day of crude output through July at an online meeting on June 1. Energy ministers said the gradual increase remained the right decision, though recovery and demand still face risks.
Confirmed supply additions cap crude price gains while demand recovers. Lower crude costs ease pressure on diesel and fuel-linked input costs for feed transport.
aljazeera.comAPJun 1, 2021After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
