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Jeff Currie, head of commodities research at Goldman Sachs, said there is a high probability that OPEC will agree to extend its crude production curbs. The curbs are aimed at draining excess global supply.
A bank forecast of an extension supports the expectation of tighter crude supply, which would push energy prices higher and feed into input costs.
bloomberg.comMark ShenkApr 26, 2017After 442 past bullish policy events, 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, 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.
