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OPEC published new voluntary production adjustments effective January 2019 for an initial six-month period, following the December 7 ministerial meeting. The cartel said its overall conformity level since January 2017 is 116 percent, while November 2018 conformity was 98 percent.
Country-level production targets were listed in a table.
Confirmed quotas set the supply restraint for the first half of 2019, which underpins crude prices. Energy price support influences diesel and input costs across the feed chain.
azernews.azJan 18, 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.
