OPEC Raises Oil Production To Highest Level In Years

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, 2024OPEC+ members to delay oil production increases+0.6%
• Feb 1, 2024OPEC+ leaves oil production levels unchanged, to review production cut extension in March-2.6%
• Dec 4, 2022OPEC+ agrees to maintain oil production targets-11.4%
• Nov 30, 2016Oil price rises sharply as Opec members hint at deal to limit production+16.7%
• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%

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, 2024OPEC+ members to delay oil production increases+2.6%
• Feb 1, 2024OPEC+ leaves oil production levels unchanged, to review production cut extension in March-2.6%
• Dec 4, 2022OPEC+ agrees to maintain oil production targets-11.1%
• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%
• Oct 4, 2023OPEC+ Leaves Oil Production Levels Unchanged | OilPrice.com-3.7%