Russia promises to unveil new OPEC+ supply cut deal next week

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.

• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-4.2%
• Oct 5, 2022Oil rises to 3-week highs as OPEC+ agrees to deep cuts, U.S. stockpiles fall | Reuters+2.1%
• Nov 30, 2017Opec and Russia extend deal to cut oil production through 2018-2.7%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+16.7%
• Jun 28, 2019Arab News | OPEC ‘set to roll over supply deal, discuss deeper oil curbs’-4.4%

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.

• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-1.4%
• Oct 5, 2022Oil rises to 3-week highs as OPEC+ agrees to deep cuts, U.S. stockpiles fall | Reuters+3.3%
• Nov 30, 2017Opec and Russia extend deal to cut oil production through 2018-2.5%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+12.5%
• Jun 28, 2019Arab News | OPEC ‘set to roll over supply deal, discuss deeper oil curbs’-3.5%