OPEC+ Resolves to Continue with Gradual 400,000 bpd Oil Output Hikes

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 2, 2020Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg+3.4%
• Apr 20, 2018OPEC, Russia want to continue output curbs on oil to boost investment | Business News+1.0%
• Dec 1, 2017Mexico agrees to continue output cut in line with OPEC - BNamericas-2.0%
• Oct 4, 2021OPEC+ sticks to plan for gradual oil output hike, price roars higher+3.7%
• Nov 4, 2021OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas+1.5%

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 2, 2020Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg+2.4%
• Apr 20, 2018OPEC, Russia want to continue output curbs on oil to boost investment | Business News-0.2%
• Dec 1, 2017Mexico agrees to continue output cut in line with OPEC - BNamericas-1.5%
• Oct 4, 2021OPEC+ sticks to plan for gradual oil output hike, price roars higher+4.6%
• Nov 4, 2021OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas+0.5%