Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Nov 1, 2020Oil Climbs With Russia in Talks on Delaying OPEC+ Output Hike - Bloomberg+3.7%
• Nov 3, 2024OPEC+ agrees to delay December output hike for one month | Reuters+1.3%
• Dec 2, 2021Oil rises as investors focus on OPEC+ decision+10.6%
• Mar 30, 2022OPEC+ sticks to modest oil output rises, ditches IEA data-2.2%
• May 28, 2019Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries-8.9%

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Nov 1, 2020Oil Climbs With Russia in Talks on Delaying OPEC+ Output Hike - Bloomberg+5.1%
• Nov 3, 2024OPEC+ agrees to delay December output hike for one month | Reuters+0.8%
• Dec 2, 2021Oil rises as investors focus on OPEC+ decision+9.7%
• Mar 30, 2022OPEC+ sticks to modest oil output rises, ditches IEA data-4.4%
• May 28, 2019Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries-9.0%