Opec and allies extend oil production cuts to end of July

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.

• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%
• May 3, 2024OPEC+ likely to extend production cuts in June+0.4%
• Mar 4, 2021Oil prices surge as OPEC and its allies extend production cuts | CNN Business+5.1%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-8.3%
• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-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.

• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%
• May 3, 2024OPEC+ likely to extend production cuts in June-0.8%
• Mar 4, 2021Oil prices surge as OPEC and its allies extend production cuts | CNN Business+5.2%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-7.2%
• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-7.2%