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Bloomberg calculations show OPEC+ members reset their agreement terms as of January 1. Half of the 10 participating OPEC countries conformed to supply cuts in January, and the overall coalition compliance rate was 119%.
Over-compliance means the announced cuts may deliver less tightening than headline volumes suggest, which limits upward pressure on crude and the fuel costs that feed to logistics.
bloomberg.comBrian Wingfield, Samuel Dodge, Demetrios Pogkas, Cedric SamFeb 25, 2020After 56 past neutral report events, Crude Oil (WTI) moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% over 20.
After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% 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.
