Oil ends lower even as OPEC+ committee reiterates output-cut pledge

After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

• Feb 1, 2023OPEC+ committee recommends no change in oil output policy at virtual meeting-2.2%
• Feb 1, 2024Opec+ committee meeting keeps oil output policy unchanged - The Business Times-2.6%
• Jan 4, 2022Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike | Reuters+2.8%
• Jan 4, 2022OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter+2.8%
• Feb 3, 2021Opec+ JMMC ends with no recommendation | Latest Market News+6.5%

After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

• Feb 1, 2023OPEC+ committee recommends no change in oil output policy at virtual meeting-0.8%
• Jul 14, 2023OPEC+ monitoring committee to meet Aug 3 to review oil output cuts: delegates | S&P Global-2.1%
• Feb 1, 2024Opec+ committee meeting keeps oil output policy unchanged - The Business Times-2.6%
• Jan 4, 2022Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike | Reuters+3.3%
• Jan 4, 2022OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter+3.3%