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Opec's monthly report projected that global oil supply will match demand in 2026, a shift from earlier forecasts of a deficit. Opec kept its 2025 and 2026 demand growth forecasts of about 1.3 million bpd and said the global economy remained resilient.
The report showed a marginal surplus of about 20,000 bpd if Opec+ output stays at October's rate.
A projected balanced-to-surplus market limits the upside for crude prices, which supports lower energy costs for feed producers. The gap between Opec and other forecasters is narrowing, which reduces the chance of a sharp price move.
tradearabia.comMar 9, 2018After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
