
OPEC+ said on June 2, 2024 that it would extend a cut of 1.65 million barrels per day, first announced in April 2023, until the end of 2025. The cut had been due to expire at the end of 2024.
The statement described phasing out other cuts on a monthly basis by September 2025.
Extending the cut keeps about 1.65 million barrels per day off the market for longer, supporting crude prices. Higher energy costs feed through to diesel, fertilizer and transport costs for feed producers.
Setelah 438 peristiwa kebijakan bullish sebelumnya, Minyak Mentah (WTI) bergerak median +0,9% selama 5 sesi (61% lebih tinggi; separuh tengah -2,2% sampai +4,6%), dan +2,0% selama 20 sesi.
Setelah 442 peristiwa kebijakan bullish sebelumnya, Minyak Mentah (Brent) bergerak median +1,4% selama 5 sesi (60% lebih tinggi; separuh tengah -2,0% sampai +4,9%), dan +2,1% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Details the OPEC+ decision to extend some cuts into 2025 while phasing out others monthly through September 2025, the policy that markets repriced on June 3.