Oil prices top $40 as OPEC+ extends production cuts

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Nov 30, 2020Opec agrees to extend existing oil production cuts: Abdelmadjid Attar+1.5%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• Jun 6, 2020OPEC and allies agree to extend record production cut-8.3%
• Apr 12, 2020Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg-19.9%
• Feb 1, 2017Oil prices stabilise as Russia joins OPEC in production cut - Offshore Energy-1.1%

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Nov 30, 2020Opec agrees to extend existing oil production cuts: Abdelmadjid Attar+3.5%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• Jun 6, 2020OPEC and allies agree to extend record production cut-7.2%
• Apr 12, 2020Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg-6.7%
• Feb 1, 2017Oil prices stabilise as Russia joins OPEC in production cut - Offshore Energy-1.9%