OPEC stuns by opting not to raise output; was diesel a reason?

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.

• Jul 24, 2018France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand+2.4%
• Feb 2, 2022With oil markets tightening, OPEC and its allies agree to a small increase in output.+4.1%
• Mar 1, 2017Oil rises as Opec sticks to output pledges, rising US production cap gains+1.5%
• Jun 1, 2021Brent Touches A Three-Month High As OPEC+ Decides To Stick With Output Increases For July+2.4%
• Oct 4, 2021OPEC+ agrees to stick to existing oil output plan, sources say | Reuters+3.7%

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.

• Jul 24, 2018France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand+4.3%
• Feb 2, 2022With oil markets tightening, OPEC and its allies agree to a small increase in output.+1.3%
• Mar 1, 2017Oil rises as Opec sticks to output pledges, rising US production cap gains-2.2%
• Jun 1, 2021Brent Touches A Three-Month High As OPEC+ Decides To Stick With Output Increases For July+4.4%
• Oct 4, 2021OPEC+ agrees to stick to existing oil output plan, sources say | Reuters+4.6%

After 90 past bullish policy events, ULSD / Diesel moved a median +1.4% over 5 sessions (66% higher; middle half -1.9% to +4.1%), and +0.1% over 20.

• Jan 5, 2019The FreightWaves oil report: Mexico steps in with a new chunk of low sulfur diesel demand - FreightWaves+6.0%
• Apr 21, 2021Renewable fuel requirements threaten to play bigger role in diesel price - FreightWaves+1.6%
• Jun 1, 2021Brent Touches A Three-Month High As OPEC+ Decides To Stick With Output Increases For July+3.6%
• Oct 6, 2019FreightWaves oil report: physical diesel markets strengthen; IMO 2020 link eyed - FreightWaves+3.3%
• Apr 2, 2023Oil leaps 6% as OPEC+ shocks markets by cutting output target+2.0%