Oil up in tight market as U.S. sets release of more reserves

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.

• Feb 2, 2022With oil markets tightening, OPEC and its allies agree to a small increase in output.+1.3%
• Nov 30, 2016Oil Up 7 Percent as Market Awaits Details of First OPEC Production Cut in Eight Years+12.5%
• Jan 6, 2021Swinging again, Saudi Arabia sacrifices market share to protect oil price: Kemp | Reuters+6.6%
• Dec 1, 2023Oil Futures Lower as Market Ponders OPEC Cuts-8.8%
• Dec 1, 2021Oil rises 3% to one-week high after U.S. taps emergency reserves+8.8%

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.

• Feb 2, 2022With oil markets tightening, OPEC and its allies agree to a small increase in output.+4.1%
• Nov 30, 2016Oil Up 7 Percent as Market Awaits Details of First OPEC Production Cut in Eight Years+16.7%
• Jan 6, 2021Swinging again, Saudi Arabia sacrifices market share to protect oil price: Kemp | Reuters+5.4%
• Dec 1, 2023Oil Futures Lower as Market Ponders OPEC Cuts-9.9%
• Dec 1, 2021Oil rises 3% to one-week high after U.S. taps emergency reserves+6.8%