
OPEC plans to invite Libya and Nigeria to the next JMMC meeting on September 22, 2017. The statement says the committee will monitor market factors and that extending the cooperation beyond Q1 2018 remains open.
Bringing exempt producers into the monitoring framework could limit future supply surprises, a modestly supportive factor for crude prices.
After 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.