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Wood Mackenzie said OPEC and non-OPEC producers agreed on 30 November in Vienna to continue production curbs into 2018, with a review set for June. The firm said the rollover matches its base-case price forecast and expects world supply to rise 1.8 million b/d year on year in 2018.
The analysis points to a tighter supply and demand balance in the second half of 2018, which supports crude prices and the energy input costs behind feed.
woodmac.comDec 1, 2017After 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.
