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OPEC and allies are meeting by videoconference on Tuesday to present crude market prospects and a joint monitoring report. The meeting follows an April 27 agreement on production adjustments for May, June and July.
Angola's output targets for those months were also outlined.
The meeting sets the production path that determines crude supply through July. Routine scheduling of this kind has limited direct price impact unless the outcome changes the plan.
angop.aoMay 31, 2021After 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.
After 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.
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.
