OPEC oil output sinks to lowest since 2011 after Saudi attacks: Reuters survey

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.

• Jul 31, 2019OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey-7.6%
• Mar 25, 2022Oil rises to over $120/bbl after attack on Saudi facilities | Reuters-11.6%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+12.6%
• Feb 24, 2022Oil tops $105/bbl after Russia attacks Ukraine | Reuters+20.2%
• Jul 5, 2021OPEC+ abandons oil policy meeting after Saudi-UAE clash | Reuters-1.5%

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.

• Jul 31, 2019OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey-7.6%
• Mar 25, 2022Oil rises to over $120/bbl after attack on Saudi facilities | Reuters-11.4%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+10.9%
• Feb 24, 2022Oil tops $105/bbl after Russia attacks Ukraine | Reuters+18.2%
• Jul 5, 2021OPEC+ abandons oil policy meeting after Saudi-UAE clash | Reuters-0.6%