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A leaked internal OPEC document showed OPEC and Russia-led allies are struggling to deliver the 1 million bpd increase promised in June. Gains in Saudi Arabia and Russia were offset by declines in Iran, Venezuela, Angola, Mexico, Kazakhstan and Malaysia.
Shortfalls in promised output keep crude tighter than headline pledges imply, which supports prices and energy costs.
oilprice.comTsvetana ParaskovaOct 19, 2018After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), 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.
