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OPEC Secretary-General Mohammed Barkindo told the Associated Press that producers remain committed to restoring balance in oil markets and want stability on a sustainable basis. He said stock drawdowns since November have been significant but slower than expected.
The statement signals continued commitment to supply restraint, which supports crude prices but offers no firm new decision on output levels.
archive.orgJennifer O'NeillApr 19, 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.
