Analysts hike oil outlook on geopolitical risks, oversupply concerns limit upside

After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.

• Nov 13, 2023Oil settles up 1% as OPEC report dampens demand concerns | Reuters-0.4%
• Mar 14, 2024Oil prices climb as revised IEA outlook signals tighter market | Reuters+2.6%
• Sep 12, 2017Oil edges up as OPEC output falls, offsets hurricane concerns+3.8%
• Jul 21, 2021Oil climbs over 4% despite rise in U.S. inventories | Reuters+6.4%
• Nov 14, 2019Oil Rises on Signs of U.S. Supply Drop, OPEC’s Shale Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com-0.2%

After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.

• Nov 13, 2023Oil settles up 1% as OPEC report dampens demand concerns | Reuters-2.0%
• Mar 14, 2024Oil prices climb as revised IEA outlook signals tighter market | Reuters+2.2%
• Sep 12, 2017Oil edges up as OPEC output falls, offsets hurricane concerns+2.7%
• Jul 21, 2021Oil climbs over 4% despite rise in U.S. inventories | Reuters+7.2%
• Mar 14, 2024IEA raises oil demand outlook again but still lags OPEC | Reuters+2.2%