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A Reuters survey showed OPEC July output reached a 2018 high of 32.64 million bpd, though losses from Iran and Libya limited the gain. OPEC compliance with cuts slipped to 111 percent from 116 percent in June.
Output still exceeds agreed targets but the rise is limited by outages, leaving crude prices with mixed pressure on energy and biofuel costs.
energynow.comJul 1, 2018After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% over 20.
After 56 past neutral report events, Crude Oil (WTI) moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% 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.
