Oil falls on concerns another OPEC+ supply boost will swell glut

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Jul 4, 2023Why are OPEC+ supply cuts failing to boost oil prices?+4.3%
• Dec 12, 2023Oil falls more than 3% on softening demand, oversupply concerns | Reuters+3.3%
• Oct 13, 2024Oil falls 2% as OPEC cuts oil demand growth view, China concerns-8.5%
• Jul 21, 2017Oil prices sink on a report OPEC supply will rise in July+4.4%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+4.9%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Jul 4, 2023Why are OPEC+ supply cuts failing to boost oil prices?+7.3%
• Dec 12, 2023Oil falls more than 3% on softening demand, oversupply concerns | Reuters+1.7%
• Oct 13, 2024Oil falls 2% as OPEC cuts oil demand growth view, China concerns-8.3%
• Jul 21, 2017Oil prices sink on a report OPEC supply will rise in July+4.9%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+6.2%