OPEC+ extends output cuts through July and cracks down on cheats

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.

• Jun 6, 2020OPEC, Allies Finalize Deal to Extend Oil-Output Cuts-8.3%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.2%
• Nov 30, 2017Opec and Russia extend deal to cut oil production through 2018-2.5%
• Dec 1, 2017World’s crude oil producers extend cuts on output through 2018-1.5%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-8.3%

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.

• Jun 6, 2020OPEC, Allies Finalize Deal to Extend Oil-Output Cuts-7.2%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.3%
• Nov 30, 2017Opec and Russia extend deal to cut oil production through 2018-2.7%
• Dec 1, 2017World’s crude oil producers extend cuts on output through 2018-2.0%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-7.2%