Oil market to get “extremely tight” if OPEC continues supply cuts, Citadel reports

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

• Sep 5, 2022OPEC+ agrees to make token supply cut to steady oil market+1.0%
• May 30, 2018Oil Rallying After Report Says OPEC Keeping Supply Cuts Through 2018 - Markets Insider-1.9%
• Mar 29, 2018Oil prices gain on expectation of continued Opec supply curbs in 2018 | The National-1.2%
• Dec 6, 2019Deeper OPEC+ supply cuts sends supportive signal to markets | Wood Mackenzie+1.3%
• Dec 1, 2016OPEC deal expected to tighten oil market in 2017: Kemp+0.8%

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

• Sep 5, 2022OPEC+ agrees to make token supply cut to steady oil market-0.9%
• May 30, 2018Oil Rallying After Report Says OPEC Keeping Supply Cuts Through 2018 - Markets Insider-1.1%
• Mar 29, 2018Oil prices gain on expectation of continued Opec supply curbs in 2018 | The National-2.0%
• Dec 6, 2019Deeper OPEC+ supply cuts sends supportive signal to markets | Wood Mackenzie+1.4%
• Dec 1, 2016OPEC deal expected to tighten oil market in 2017: Kemp+6.6%