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.
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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