Exclusive | OPEC+ Agrees to Extend Production Cuts in Bid to Boost Oil Prices - WSJ

After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.

• Oct 5, 2022OPEC+ agrees to cut oil production to boost sliding prices - Los Angeles Times+2.1%
• Jul 1, 2019OPEC agrees to extend current production cuts by 9 months-4.2%
• Oct 5, 2022Oil: OPEC+ imposes deep production cuts in a bid to shore up prices+2.1%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.3%
• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-7.2%

After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.

• Oct 5, 2022OPEC+ agrees to cut oil production to boost sliding prices - Los Angeles Times+3.3%
• Jul 1, 2019OPEC agrees to extend current production cuts by 9 months-1.4%
• Oct 5, 2022Oil: OPEC+ imposes deep production cuts in a bid to shore up prices+3.3%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.2%
• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-8.3%