Opec+ decided on July output hike to punish over-producers

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.

• Jun 27, 2017OPEC in no rush on deeper oil output cut, to look at in July+7.1%
• Aug 27, 2018OPEC Committee: Oil Producers Cut July Output By 9% More Than Agreed | Rigzone+0.6%
• Mar 3, 2025OPEC+ to proceed with planned April oil output hike-3.9%
• Mar 4, 2025Exclusive: Kazakh overproduction helped sway OPEC+ to approve output hike, sources say-3.4%
• May 25, 2017Opec, non-Opec producers roll over output restraint deal for nine months to curb glut | The National-5.4%

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.

• Jun 27, 2017OPEC in no rush on deeper oil output cut, to look at in July+9.9%
• Aug 27, 2018OPEC Committee: Oil Producers Cut July Output By 9% More Than Agreed | Rigzone+2.8%
• Mar 3, 2025OPEC+ to proceed with planned April oil output hike-3.4%
• Mar 4, 2025Exclusive: Kazakh overproduction helped sway OPEC+ to approve output hike, sources say-2.8%
• May 25, 2017Opec, non-Opec producers roll over output restraint deal for nine months to curb glut | The National-7.0%