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A S&P Global Platts survey found OPEC output at 32.1 mbd in January and February, about 400,000 bpd below the agreed threshold, with compliance at 98.5 percent in February. OPEC Secretary-General Barkindo cited strong compliance and better market prospects.
High compliance supports the floor under crude prices, which matters for energy input costs and biofuel-linked demand for vegetable oils.
upi.comDaniel J. GraeberMar 6, 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.
