Saudi Arabia expected to extend voluntary oil cut for September, analysts say

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.

• Sep 5, 2023Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year+2.0%
• Oct 4, 2023Saudi Arabia, Russia to continue voluntary oil cuts | Reuters-3.8%
• Apr 1, 2019Saudi Arabia to Extend Deep Oil Output Cuts Into April+2.9%
• Mar 4, 2024Saudi Arabia and the UAE among Opec+ members extending oil output cuts | The National-1.2%
• Aug 4, 2023OPEC+ Sticks To Oil Output Policy As Saudi Extends Voluntary Production Cut+1.5%

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.

• Sep 5, 2023Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year+2.1%
• Oct 4, 2023Saudi Arabia, Russia to continue voluntary oil cuts | Reuters-3.7%
• Apr 1, 2019Saudi Arabia to Extend Deep Oil Output Cuts Into April+4.9%
• Mar 4, 2024Saudi Arabia and the UAE among Opec+ members extending oil output cuts | The National-2.4%
• Aug 4, 2023OPEC+ Sticks To Oil Output Policy As Saudi Extends Voluntary Production Cut+1.5%