Loading…
Delegates told Energy Intelligence that OPEC+ laggards will make extra cuts of 1.15 million b/d in August and September to compensate for overproduction. Quota breaches totalled about 70 million barrels over May to July.
Compensation cuts of this scale tighten near-term crude supply and support prices, though enforcement by the largest overproducers remains uncertain.
energyintel.comAuthor Amena Bakr, DubaiAug 21, 2020After 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.
