OPEC+ Ratifies August Oil Production Increase, Leaving Next Move Unresolved

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.

• Aug 3, 2022Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg-4.1%
• Oct 31, 2022OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg+5.4%
• Nov 30, 2023OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg-11.0%
• Apr 5, 2026OPEC+ to increase oil production by 206,000 bpd in May - Business & Economy - TASS-13.2%
• Jan 29, 2024No changes to oil production policy expected at OPEC+ meeting-7.3%

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.

• Aug 3, 2022Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg-3.4%
• Oct 31, 2022OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg+4.0%
• Nov 30, 2023OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg-10.5%
• Apr 5, 2026OPEC+ to increase oil production by 206,000 bpd in May - Business & Economy - TASS-9.7%
• Jan 29, 2024No changes to oil production policy expected at OPEC+ meeting-6.0%