Volatile Up and Down Moves Post-OPEC Meetings - Chart Of The Day 4 December 2018 - Equitymaster
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Volatile Up and Down Moves Post-OPEC Meetings
Dec 4, 2018


Talking about the OPEC meeting and its impact on crude oil prices, I found some interesting data.

I wanted to check the impact on crude oil prices immediately after OPEC meetings.

I considered November 2014 as the starting point for this exercise.

Guess what? After OPEC meetings, crude oil prices have seen volatile moves both ways.

Look at this chart...

In the last four years, crude oil prices have moved between -7% and 9% in a single day immediately after OPEC meetings.

So, I won't be surprised if we see a similar volatility after Thursday's meeting.

It is important to note that, in the short term, OPEC has significant influence on the price of crude oil. But in the long term, its ability to influence the price of oil is quite limited. This because individual countries within OPEC have different incentives than the group as a whole.

Data Source: OPEC, www.macrotrends.net

This Chart Of The Day was published in The 5 Minute WrapUp - Forget About RBI's MPC Meeting. Focus on This More Important Meeting Instead

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