Oil edges up as supply woes outweigh demand and rate hike worries

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, 2022Oil edges higher after OPEC+ keeps to steady supply bump, U.S. stockpiles draw | Reuters+1.3%
• Jul 29, 2022Oil up over $2 per barrel as hopes fade for OPEC+ supply boost | Reuters-8.0%
• Jan 3, 2019Oil rises in choppy trade as OPEC supply cuts vie with demand worry+12.6%
• Feb 28, 2019How OPEC's refusal to ease supply hike oil prices | Daily Times Nigeria News - Nigeria and World NewsDAILY TIMES Nigeria-1.2%
• Sep 1, 2023Oil rises to highest in over seven months on supply worries+4.7%

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, 2022Oil edges higher after OPEC+ keeps to steady supply bump, U.S. stockpiles draw | Reuters+4.1%
• Jul 29, 2022Oil up over $2 per barrel as hopes fade for OPEC+ supply boost | Reuters-11.4%
• Jan 3, 2019Oil rises in choppy trade as OPEC supply cuts vie with demand worry+10.9%
• Feb 28, 2019How OPEC's refusal to ease supply hike oil prices | Daily Times Nigeria News - Nigeria and World NewsDAILY TIMES Nigeria-1.1%
• Sep 1, 2023Oil rises to highest in over seven months on supply worries+4.0%