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OPEC and Russia signaled they want to keep output curbs in place beyond the goal of eliminating the inventory surplus, citing the need to boost oil and gas investment. Saudi and Russian ministers said there is no fixed formula for ending the cuts, and the surplus has already been reduced by about 97 percent.
Continued curbs keep supply constrained, which supports crude prices. Higher prices would also feed through to energy and transport costs for feed producers.
hindustantimes.comAngelina Rascouet, Wael Mahdi, Elena MaznevaApr 20, 2018After 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.
After 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.
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.
