Oil pares losses after Saudi oilmin says OPEC+ has options including cuts

After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.

• Sep 16, 2019OPEC says too early for any action on oil after Saudi attacks+6.6%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-4.8%
• Nov 22, 2021OPEC considers lowering production to account for oil reserve releases-8.8%
• Nov 29, 2020Iraq isn't seeking exemptions from OPEC+ output cuts: report | S&P Global+3.5%
• Apr 29, 2026In five charts: How UAE's exit could affect Opec's influence over the oil price-1.9%

After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.

• Sep 16, 2019OPEC says too early for any action on oil after Saudi attacks+5.8%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-6.1%
• Nov 22, 2021OPEC considers lowering production to account for oil reserve releases-8.2%
• Apr 29, 2026In five charts: How UAE's exit could affect Opec's influence over the oil price+2.2%
• Jun 23, 2025Update: oil prices fall back after short-lived surge in early trading - FreightWaves-12.2%