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Analysis suggests OPEC will likely agree to extend its November production cut at its May meeting. Prices have stayed near $50 for WTI, and the article questions whether an extension can push oil to the $60 level OPEC wants.
A likely OPEC extension would support crude prices, but the article notes that bearish inventory signals have kept prices below $50, limiting upside for energy-linked feed and biofuel costs.
vinachem.com.vnApr 28, 2017After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% 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.
