
Brent crude futures settled up nearly 9 percent after OPEC agreed to its first joint oil cut with Russia since 2001. Saudi Arabia accepted a significant concession by dropping its demand that Iran also cut output.
Prices eased slightly in early Asian trading on concerns that other producers, especially US shale drillers, could fill the gap.
The cut removes crude supply from the market, supporting energy prices, while expected shale output growth limits how far the rally can extend.
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.
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.
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.
Reports that Brent settled up nearly 9% on OPEC's first joint cut with Russia since 2001 match the size of the move and point to a supply-reduction mechanism.