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An Investing.com commentary examines why OPEC members are moving to increase oil production after Saudi Arabia and Russia said OPEC and non-OPEC partners would consider higher output. Oil prices fell that week and continued lower, with UAE, Kuwait and Saudi officials planning discussions.
The analysis attributes the shift to several motivations.
Expectations of higher OPEC+ output keep downward pressure on crude, which lowers energy costs that feed into biofuel and feed-ingredient pricing. The commentary offers context rather than a new supply event.
investing.comMay 30, 2018After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
