OPEC+ opts for 'voluntary cuts' in oil production, invites Brazil to join

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

• Dec 1, 2017For How Long Will OPEC Extend Production Cuts?-2.0%
• Nov 30, 2023OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder-10.5%
• Jan 4, 2022OPEC+ sticks to existing production policy for February+3.3%
• Mar 16, 2023OPEC to wait for calmer financial markets before making oil production cut decision+3.2%
• Jan 2, 2024OPEC+ To Meet In Early February To Review Production: Report-2.0%

After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

• Dec 1, 2017For How Long Will OPEC Extend Production Cuts?-1.5%
• Nov 30, 2023OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder-11.0%
• Jan 4, 2022OPEC+ sticks to existing production policy for February+2.8%
• Mar 16, 2023OPEC to wait for calmer financial markets before making oil production cut decision+4.9%
• Jan 2, 2024OPEC+ To Meet In Early February To Review Production: Report-1.2%