
Russia rejected a new round of oil production cuts proposed in response to coronavirus, and OPEC+ talks failed on Friday. Novak said no member was now obliged to lower output from April 1, and the meeting was adjourned.
Removing the obligation to cut output from April raises the risk of a supply glut as demand contracts, which pressures crude prices. The breakdown also threatens the Russia-Saudi alliance that has steadied the market.
Após 250 eventos baixista de geopolítica passados, Petróleo (Brent) subiu em mediana -3,1% em 5 sessões (36% de alta; metade central de -7,9% a +1,6%), e -5,5% em 20.
Após 255 eventos baixista de geopolítica passados, Petróleo (WTI) subiu em mediana -2,4% em 5 sessões (31% de alta; metade central de -7,0% a +1,7%), e -5,0% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Russia rejected deeper OPEC+ cuts on March 6 and the talks failed, removing the supply-restraint framework and triggering the WTI selloff that day.
Russia rejected the cuts and Novak said no member was obliged to lower output from April 1, a direct supply shock that fed the crude selloff.
Russia rejected new production cuts and said no member was obliged to cut from April 1, removing supply discipline and weighing on crude.