OPEC+ agrees to stick to existing oil output plan, sources say

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.

• Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-6.4%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-1.4%
• Sep 5, 2024OPEC+ agrees to delay October oil output hike for two months | Reuters-2.7%
• Nov 1, 2021Oil hits multi-year highs as OPEC+ sticks to output plan-2.7%
• Apr 3, 2023Opec+ agrees to stick to oil output targets as members pledge voluntary cuts | The National+5.4%

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.

• Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-7.1%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-4.2%
• Sep 5, 2024OPEC+ agrees to delay October oil output hike for two months | Reuters-4.4%
• Nov 1, 2021Oil hits multi-year highs as OPEC+ sticks to output plan-1.4%
• Apr 3, 2023Opec+ agrees to stick to oil output targets as members pledge voluntary cuts | The National+7.4%