Loading…
OPEC+ ministers reaffirmed their commitment to output cuts but deferred until June the decision on extending them. The committee cited critical uncertainties, including US sanctions threatening Iranian and Venezuelan supply.
Russia and Iraq had resisted committing to a rollover so soon.
The deferral keeps supply policy open, so crude prices stay sensitive to June decisions, which affects diesel, freight and fertilizer costs for feed producers.
themalaysianreserve.comDzulMar 19, 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.
