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Energy Intelligence reported that OPEC crude output fell in August and compliance with production caps rose. The article suggests the market could see a supply deficit and faster inventory draws in the second half of 2017.
Higher compliance and tightening balances point to firmer benchmark crude prices.
energyintel.comSep 12, 2017After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% 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.
