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The UAE energy minister, who chairs OPEC, has said plans are underway for a longer-term OPEC supergroup with Russia and other producers beyond the end-2018 expiry of the cut deal. The analysis outlines the challenges such a group would face.
A formal long-term alliance would support management of supply and help keep prices above recent lows. The effect on prices depends on whether the group is formalised.
thenationalnews.comRobin MillsFeb 27, 2018After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% 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.
