CME OPEC Watch Tool: Probability of OPEC+ maintaining output cuts stands at 81.51%
|According to the latest CME OPEC Watch Tool, the probability of the OPEC+ maintaining the output cut policy at its December meeting stands at 81.51%.
The consensus for further output cuts is seen at a meager 8.23% while there is a 10.26% chance of the OPEC+ increasing its output levels when it meets in Vienna on December, 5th.
Meanwhile, both crude benchmarks are reporting mild gains so far this Monday, with WTI hovering around 58.00 and Brent holding above the 62.50 level.
About CME OPEC Watch Tool
The new CME OPEC Watch Tool uses NYMEX WTI Crude Oil Option prices to calculate probabilities of certain outcomes of the next OPEC meeting. This tool derives probabilities from the closet expiration month that expires after the OPEC meeting.
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