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Saudi Arabia's energy minister said OPEC+ will discuss all options at its March meeting, when the current output agreement expires. He said Saudi Arabia is pumping 9.744 million barrels per day and that production in January and February will be reviewed.
Uncertainty over whether OPEC+ extends or ends its cuts keeps crude price direction open, with a possible end to the cuts being bearish for oil.
thenationalnews.comFareed RahmanJan 23, 2020After 63 past neutral geopolitics events, Crude Oil (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, Crude Oil (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.
