US Oil Production Hits Another Record, Adding to Supply Worries

After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

• Mar 9, 2017Oil price falls below $50 as U.S. supplies hit record-2.9%
• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-0.3%
• Nov 29, 2017Oil supply outages fall as OPEC decides on extension of production restraint agreement Report | Wood Mackenzie-0.6%
• Oct 11, 2018OPEC hikes oil output in September as Iran's production falls-4.8%
• May 18, 2017CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension+4.2%

After 129 past bearish report events, BRENT moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-2.3%
• Nov 28, 2025Swelling supply to keep oil prices under strain in 2026 | Reuters+0.1%
• Nov 29, 2017Oil supply outages fall as OPEC decides on extension of production restraint agreement Report | Wood Mackenzie-0.7%
• Oct 11, 2018OPEC hikes oil output in September as Iran's production falls-4.2%
• May 18, 2017CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension+3.2%