Oil slips after hitting $90/bbl as OPEC+ considers 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.

• Nov 30, 2019OPEC Oil Output Slips Before Vienna Meeting+3.1%
• Dec 1, 2017Oil near 2½-year highs after OPEC extends output cuts-2.0%
• Apr 2, 2023Oil leaps 6% as OPEC+ shocks markets by cutting output target+7.4%
• Dec 1, 2016Oil soars, Brent hits 16-month high after OPEC output deal | Reuters+6.6%
• Apr 3, 2024OPEC+ keeps output policy steady as oil nears $90 a barrel+2.8%

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.

• Nov 30, 2019OPEC Oil Output Slips Before Vienna Meeting+3.6%
• Dec 1, 2017Oil near 2½-year highs after OPEC extends output cuts-1.5%
• Apr 2, 2023Oil leaps 6% as OPEC+ shocks markets by cutting output target+5.4%
• Dec 1, 2016Oil soars, Brent hits 16-month high after OPEC output deal | Reuters+0.8%
• Apr 3, 2024OPEC+ keeps output policy steady as oil nears $90 a barrel+0.1%