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A commentary argues OPEC's influence over prices has waned, with the market now setting oil prices. Prices fell below pre-Abqaiq attack levels despite roughly 5m barrels per day being temporarily removed, and Venezuelan, Iranian and Libyan supply remain constrained.
Market-driven pricing with ample supply points to softer energy costs ahead, though policy uncertainty keeps volatility elevated.
ft.comNick ButlerOct 21, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
