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Oil prices dropped further after the US asked OPEC to raise output and Trump said he had discussed increasing oil flow with Saudi Arabia and others. Brent fell 56 cents to $71.59 and WTI fell 37 cents to $62.93.
Signals of higher OPEC output to offset Iran sanctions point to a looser crude balance and lower energy costs, though the sanctions-driven supply loss remains a risk.
offshore-technology.comAninda ChakrabortyApr 28, 2019After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
