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OPEC and non-OPEC members extended their oil production cuts for nine months on 25 May 2017, which steadied oil prices. Analysts differ on whether prices will rise or fall after March 2018, and Alberta producers are watching the outcome closely.
The extension supports prices through the rest of 2017, which helps Canadian producers and related energy costs. Analysts warn that supply may recover in early 2018, which could push prices down again.
cbc.caKyle Bakx, Tracy JohnsonMay 26, 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.
