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The Joint OPEC-non-OPEC Ministerial Monitoring Committee concluded its inaugural meeting in Vienna on January 23, 2017. The declaration took effect January 1 for six months and can be extended by another six months depending on market conditions.
A committee with a formal review structure supports compliance with the 1.8 million bpd combined cut, which is supportive for crude prices.
naija247news.comBabatunde AkinsolaJan 23, 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.
