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An analysis describes OPEC+ countries deciding to add back volumes from voluntary cuts after years of holding production down. Repeated delays to planned increases are described as complicating the plan.
The piece argues that market conditions have not improved enough to justify the cuts.
Returning barrels to the market adds supply and pressures crude prices lower, which reduces the energy cost advantage for biofuels and lowers diesel costs for feed logistics.
ceesa.utexas.eduUT AustinMay 28, 2019After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
