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Oil rose for a fourth day after Saudi Arabia's new energy minister Prince Abdulaziz bin Salman signaled OPEC and allies would continue production cuts. The UAE energy minister pushed for full member compliance but no deeper reductions were recommended.
Continued OPEC+ output cuts support crude prices by limiting supply growth, which supports energy input costs for feed producers.
energynow.comSep 9, 2019After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% 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.
