Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends

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.

• Apr 12, 2020Record deal to cut oil output ends price war - BBC News-6.7%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.6%
• Jun 8, 2020Oil prices top $40 as OPEC+ extends production cuts | Fox Business-7.2%
• May 1, 2020OPEC+ Moves To End Price War With 9.7 Million B/D Cut+24.9%

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.

• Apr 12, 2020Record deal to cut oil output ends price war - BBC News-19.9%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.5%
• Jun 8, 2020Oil prices top $40 as OPEC+ extends production cuts | Fox Business-8.3%
• May 1, 2020OPEC+ Moves To End Price War With 9.7 Million B/D Cut+23.8%

After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.

• Apr 12, 2020Record deal to cut oil output ends price war - BBC News-4.1%
• Mar 30, 2026Biofuel Demand, Iran Conflict Push Soybean Oil Prices Toward New Peak - Bloomberg+4.8%
• Mar 8, 2026Crude oil sells above $100 a barrel as Iran war impedes production | AP News-0.7%
• Mar 2, 2026Oil Prices Surge as Hormuz Disruptions Threaten Global Supply, Analysts Warn - Bloomberg+4.6%
• Dec 1, 2016OPEC Focuses on Shrinking Stockpiles to Pave the Way for $60 Oil - Bloomberg+2.5%