OPEC+ Deal Will Remain in Place All Year, Saudi Minister Says

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, 2022OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg-0.9%
• Oct 25, 2018OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg-2.1%
• Nov 30, 2016Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg+16.7%
• Mar 14, 2023OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence-8.9%
• Sep 12, 2023OPEC Oil Data Show 3 Million-Barrel Supply Shortfall as Saudi Arabia Extends Cut - Bloomberg+4.3%

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, 2022OPEC+ Will Remain Proactive After Agreeing Production Cut, Saudi Arabia Says - Bloomberg+1.0%
• Oct 25, 2018OPEC Lurches From Pump All You Can to Mulling Cuts in Just Days - Bloomberg-2.0%
• Nov 30, 2016Brent Oil Jumps to Highest in More Than a Year After OPEC Accord - Bloomberg+12.5%
• Mar 14, 2023OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence-9.5%
• Sep 12, 2023OPEC Oil Data Show 3 Million-Barrel Supply Shortfall as Saudi Arabia Extends Cut - Bloomberg+4.8%