
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.
Na 442 eerdere opwaarts beleid-gebeurtenissen bewoog Ruwe olie (Brent) zich mediaan +1,4% over 5 sessies (60% hoger; middelste helft -2,0% tot +4,9%), en +2,1% over 20.
Na 438 eerdere opwaarts beleid-gebeurtenissen bewoog Ruwe olie (WTI) zich mediaan +0,9% over 5 sessies (61% hoger; middelste helft -2,2% tot +4,6%), en +2,0% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
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.