Oil up nearly 3% as OPEC+ agrees to small oil output cut

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.

• Dec 5, 2019OPEC, allies agree to deepen oil output cuts+0.7%
• Dec 7, 2018OPEC and Allies, Defying Trump, Agree to Cut Oil Output to Prop Up Prices+2.2%
• Feb 7, 2019MEED | Opec+ agrees to extend oil output cuts till March 2020+1.6%
• Nov 30, 2023Oil prices swing as OPEC+ agrees on additional output cuts-10.5%
• Nov 21, 2019Oil Prices Surge as OPEC Looks to Cut Output | INN+2.3%

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.

• Dec 5, 2019OPEC, allies agree to deepen oil output cuts+0.5%
• Dec 7, 2018OPEC and Allies, Defying Trump, Agree to Cut Oil Output to Prop Up Prices+2.2%
• Feb 7, 2019MEED | Opec+ agrees to extend oil output cuts till March 2020-0.2%
• Nov 30, 2023Oil prices swing as OPEC+ agrees on additional output cuts-11.0%
• Nov 21, 2019Oil Prices Surge as OPEC Looks to Cut Output | INN+2.2%