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OPEC and allied producers were set to meet in Vienna to agree on production management for 2020, with Russia and other exporters joining on Friday. Brent was trading just above $60 a barrel, which some producers see as comfortable.
Key issues included weak global demand, robust US shale output and the Saudi Aramco IPO.
The outcome of the meeting will determine whether crude supply is tightened, influencing energy costs and biofuel margins that affect vegetable oil and feed markets.
ft.comDec 1, 2019After 175 past neutral policy events, Crude Oil (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.
