
OPEC+ said on Sunday it will raise output by about 188,000 barrels a day in September, the sixth straight monthly increase. Saudi Arabia and the other participating members are part of the decision.
Another monthly output increase adds to supply expectations, which is bearish for crude. The effect on prices is muted while Gulf export flows remain constrained.
After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.