Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply

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 4, 2021OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas+0.5%
• Jan 4, 2022Oil prices jump as Opec+ agrees to continue output increase in February | The National+2.8%
• Sep 5, 2022Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds | The National+1.0%
• Oct 5, 2022OPEC announces big cut in oil production despite US pressure | CNN Business+3.3%
• Nov 30, 2016Saudis to cut oil output by 0.5 million bpd in OPEC deal: source+12.5%

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 4, 2021OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas+1.5%
• Jan 4, 2022Oil prices jump as Opec+ agrees to continue output increase in February | The National+3.3%
• Sep 5, 2022Opec+ agrees to cut October crude supply by 100,000 bpd amid demand headwinds | The National-0.9%
• Oct 5, 2022OPEC announces big cut in oil production despite US pressure | CNN Business+2.1%
• Nov 30, 2016Saudis to cut oil output by 0.5 million bpd in OPEC deal: source+16.7%