Russia says low global oil stockpiles prompted OPEC+ to hike output

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

• May 5, 2022OPEC+ sticks to modest oil output hike despite price rally-2.5%
• Aug 27, 2021OPEC stays the course on output hikes as oil prices rebound+3.6%
• Jun 7, 2026OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices-7.5%
• Jul 28, 2026OPEC+ likely to pause oil output hikes after September, sources say | Reuters-4.2%
• Dec 3, 2020OPEC, Russia to nudge up oil output after hit from pandemic | The Seattle Times+1.7%

After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

• May 5, 2022OPEC+ sticks to modest oil output hike despite price rally-2.1%
• Aug 27, 2021OPEC stays the course on output hikes as oil prices rebound+3.9%
• Jun 7, 2026OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices-6.1%
• Jul 28, 2026OPEC+ likely to pause oil output hikes after September, sources say | Reuters-2.7%
• Dec 3, 2020OPEC, Russia to nudge up oil output after hit from pandemic | The Seattle Times+0.5%