Oil Declines After Trump Says He’ll Push OPEC to Lower Prices

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.

• Feb 1, 2025Oil turns lower after Trump says he'll ask Saudi Arabia and OPEC to bring the price down-2.1%
• Jan 26, 2025Oil Drops As Trump Urges OPEC To Cut Prices-2.8%
• Apr 7, 2025Palm and Soy Oil Prices Drop as Oil Prices Decline-0.8%
• Dec 6, 2022Ringgit ends lower against US dollar as oil prices decline | Malay Mail-5.0%
• Dec 23, 2016C$ hits a 5-week low on soft data, lower oil prices+2.8%

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.

• Feb 1, 2025Oil turns lower after Trump says he'll ask Saudi Arabia and OPEC to bring the price down-2.9%
• Jan 26, 2025Oil Drops As Trump Urges OPEC To Cut Prices-2.1%
• Apr 7, 2025Palm and Soy Oil Prices Drop as Oil Prices Decline-1.7%
• Dec 6, 2022Ringgit ends lower against US dollar as oil prices decline | Malay Mail-6.1%
• Mar 5, 2025Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine-1.6%