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OPEC's Joint Monitoring Committee reported that the OPEC and non-OPEC cut deal reached 98 percent compliance in March, up 4 points from February. The committee urged members to reach full conformity, and the deal runs for six months from January 1 with an option to extend for another six months.
High compliance means the supply cut is being delivered, which tightens the market and supports crude prices.
thecable.ngMayowa TijaniApr 28, 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.
