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OPEC and non-OPEC producers may discuss informal monitoring of crude exports in addition to production compliance at a Vienna panel meeting. A technical committee reported August compliance at 116%, and options for extending cuts beyond March 2018 remain open.
Stronger enforcement and possible extension of the cuts support crude prices by tightening expected supply.
oilprice.comTsvetana ParaskovaSep 21, 2017After 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.
After 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.
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.
