OPEC agrees to produce slightly more oil as recession fears loom

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

• Jan 4, 2022OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter+3.3%
• Aug 3, 2022Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg-3.4%
• Nov 30, 2023OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder-10.5%
• Dec 2, 2021Oil prices: OPEC and Russia stick with plans to increase oil output in January | CNN Business+9.7%
• Apr 5, 2026OPEC+ to increase oil production by 206,000 bpd in May - Business & Economy - TASS-9.7%

After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

• Jan 4, 2022OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter+2.8%
• Aug 3, 2022Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg-4.1%
• Nov 30, 2023OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder-11.0%
• Dec 2, 2021Oil prices: OPEC and Russia stick with plans to increase oil output in January | CNN Business+10.6%
• Apr 5, 2026OPEC+ to increase oil production by 206,000 bpd in May - Business & Economy - TASS-13.2%