OPEC+’s regularly scheduled monthly joint committee meeting sent oil prices skyrocketing on Thursday

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.

• Nov 4, 2021OPEC+ Meeting Ends: Cartel Won't Produce Extra Crude | OilPrice.com+0.5%
• Sep 30, 2023OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com-8.8%
• Jan 23, 2017OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption | Naija247news+1.6%
• Jan 23, 2017OPEC committee agrees on monitoring output measures+1.6%
• Mar 29, 2018Oil prices gain on expectation of continued Opec supply curbs in 2018 | The National-1.2%

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.

• Nov 4, 2021OPEC+ Meeting Ends: Cartel Won't Produce Extra Crude | OilPrice.com+1.5%
• Sep 30, 2023OPEC+ Panel Unlikely to Tweak Oil Policy at Wednesday Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com-9.8%
• Jan 23, 2017OPEC Joint Ministerial Monitoring Committee Concludes Inaugural Meeting - Investigations & Anti-Corruption | Naija247news-0.2%
• Jan 23, 2017OPEC committee agrees on monitoring output measures-0.2%
• Mar 29, 2018Oil prices gain on expectation of continued Opec supply curbs in 2018 | The National-2.0%