Oil dips nearly 4% on weak demand outlook and higher OPEC output

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Sep 10, 2024Oil settles near 3-year low on weak demand outlook | Reuters+1.7%
• Jul 12, 2022Brent crude settles below $100/bbl on higher dollar, weak demand outlook+0.7%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+4.9%
• Oct 15, 2024Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens-5.4%
• Mar 29, 2020OIL FUTURES: WTI tests $20/b as pandemic-weakened demand outlooks dim+21.9%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Sep 10, 2024Oil settles near 3-year low on weak demand outlook | Reuters+2.1%
• Jul 12, 2022Brent crude settles below $100/bbl on higher dollar, weak demand outlook-1.5%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+6.2%
• Oct 15, 2024Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens-5.8%
• Mar 29, 2020OIL FUTURES: WTI tests $20/b as pandemic-weakened demand outlooks dim+64.1%