
Former Saudi Aramco executive Sadad al-Husseini told CNBC that OPEC could remove about 1 million bpd from the market by end-January, deeper than the 800,000 bpd pledged. He said OPEC production could fall to roughly 32.1 million bpd in January.
He described the cuts as working well.
A deeper-than-promised cut would tighten crude supply and support oil prices. Higher energy costs can lift diesel and fertilizer input costs for feed producers.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.