Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices

After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.

• Jan 1, 2026COMMENTARY: China overtakes OPEC+ as the main oil price maker+2.6%
• Jan 30, 2025Oil Prices Hold Steady As Markets Await US Tariff Decisions, OPEC+ Meeting-2.8%
• Mar 15, 2017Will A Fed Rate Hike Boost The Price Of Oil? | Investing.com+0.6%
• Jun 8, 2022Q&A | Implications of the OPEC+ Announcement to Increase Oil Production - Center on Global Energy Policy at Columbia University SIPA | CGEP+0.3%
• Dec 31, 2024Baht, oil prices expected to face volatility in 2025: NESDC+4.2%

After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.

• Apr 18, 2017Why boom-bust oil prices may be here to stay-6.9%
• Jan 1, 2026COMMENTARY: China overtakes OPEC+ as the main oil price maker+0.8%
• Mar 15, 2017Will A Fed Rate Hike Boost The Price Of Oil? | Investing.com-0.6%
• Jun 8, 2022Q&A | Implications of the OPEC+ Announcement to Increase Oil Production - Center on Global Energy Policy at Columbia University SIPA | CGEP-0.5%
• Dec 31, 2024Baht, oil prices expected to face volatility in 2025: NESDC+4.6%