Russia's Novak does not expect new steps from OPEC+ meeting

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.

• Aug 31, 2023Russia promises to unveil new OPEC+ supply cut deal next week | Reuters+5.7%
• Dec 1, 2023OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts | Euronews-9.9%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-4.2%
• Oct 22, 2019OPEC, allies to consider deeper oil cuts at December meeting - Reuters — Octa+3.4%
• Dec 11, 2016OPEC, Non-OPEC Ministers Meet+2.7%

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.

• Aug 31, 2023Russia promises to unveil new OPEC+ supply cut deal next week | Reuters+6.4%
• Dec 1, 2023OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts | Euronews-8.8%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-1.4%
• Oct 22, 2019OPEC, allies to consider deeper oil cuts at December meeting - Reuters — Octa+4.5%
• Dec 11, 2016OPEC, Non-OPEC Ministers Meet+0.8%