
OPEC's 14 members reached a deal to cut oil production from 33.8 million to 32.5 million barrels per day, their first cut since 2008. Russia pledged a 300,000 bpd reduction, and the group planned to meet non-OPEC producers on December 9.
Brent traded near $50 and WTI near $49 after rising more than 8 percent.
The announced cut removes supply from a market that had been oversupplied for over two years, which pushes crude prices higher. Higher crude raises energy and freight costs across the feed supply chain.
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.
Confirms the OPEC deal and Russian pledge, with Brent up more than 8% on tighter expected supply.
OPEC's 14 members agreed to cut output from 33.8m to 32.5m bpd, with Russia adding 300k bpd, and Brent rose more than 8%.