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WTI and Brent were set to finish the week about 10% lower amid a crude bear market and thin holiday trading. OPEC planned to publish output cut quotas for members and allies, including Russia, totaling 1.2 million barrels per day, with the effective cut for members at 3.02%.
Weaker crude reduces diesel and fertilizer costs and weighs on biofuel economics, while OPEC's deeper-than-expected quotas could offer some support to prices.
oilprice.comJim HyerczykDec 22, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
