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Kuwait said it will support any OPEC+ decision on future oil supply policy. Saudi Arabia and Russia favor extending about 7.7 million bpd of cuts into 2021, while some producers prefer raising output from January.
Disagreement over whether to extend cuts creates uncertainty about 2021 supply, and the outcome will set crude price direction.
financialpost.comReutersOct 29, 2020After 63 past neutral geopolitics events, BRENT moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 60 past neutral geopolitics events, WTI moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% 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.
