Oil Climbs With Russia in Talks on Delaying OPEC+ Output Hike

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.5%
• Nov 3, 2024Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading+1.3%
• Nov 29, 2020OPEC+ Heads to Crucial Talks Seeking Compromise on Oil Cuts - Bloomberg+1.5%
• Nov 3, 2024OPEC+ agrees to delay December output hike for one month | Reuters+1.3%
• Mar 7, 2022Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay | Reuters-5.5%

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.6%
• Nov 3, 2024Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading+0.8%
• Nov 29, 2020OPEC+ Heads to Crucial Talks Seeking Compromise on Oil Cuts - Bloomberg+3.5%
• Nov 3, 2024OPEC+ agrees to delay December output hike for one month | Reuters+0.8%
• Mar 7, 2022Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay | Reuters-4.6%