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OPEC said it would not increase oil production unless the crisis in Iran or Venezuela caused a significant and sustained shortfall. Venezuela's output was near a 30-year low, while Iran's political unrest had pushed prices higher without affecting production.
The group's stance means no supply response to Iran or Venezuela disruptions, which keeps crude prices supported and raises input costs.
english.mubasher.infoJan 8, 2018After 656 past bullish geopolitics events, BRENT moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), 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.
