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A Reuters column says Saudi Arabia is returning to its traditional role as swing producer within the OPEC+ group. The enlarged group agreed to cut 1.2 million bpd in the first half of 2019, split between OPEC and Russia-led allies.
Saudi willingness to adjust output to balance the market limits downside risk to crude, though the column itself adds little new supply data.
reuters.comJohn KempFeb 21, 2019After 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.
