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Saudi and UAE officials said oil supplies were sufficient and inventories were still rising despite expected losses of Iranian and Venezuelan output. Saudi Energy Minister Khalid al-Falih said OPEC+ favoured gently driving stocks down and would not make hasty output decisions before a June meeting.
Assurances of ample supply cap the crude price premium from Iran sanctions, limiting upward pressure on fuel costs.
aljazeera.comNews AgenciesMay 19, 2019After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 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.
