Loading…
OPEC output in November averaged 29.57 million bpd according to a Reuters survey, down 110,000 bpd from October. OPEC+ agreed in December to cut supply by 1.2 million bpd from January 1, with OPEC's share about 800,000 bpd.
Lower OPEC output and continued compliance with the cut support crude prices, with knock-on effects on energy-linked commodity costs. The survey is a routine data point that mostly confirms existing supply restraint.
reuters.comAlex LawlerNov 30, 2019After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% 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.
