OPEC says too early for any action on oil after Saudi attacks

After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.

• Aug 22, 2022Oil pares losses after Saudi oilmin says OPEC+ has options including cuts+0.9%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-6.1%
• Feb 13, 2023UAE energy minister: no need for early OPEC+ meeting-4.3%
• Nov 22, 2021OPEC considers lowering production to account for oil reserve releases-8.2%
• Nov 30, 2020Opec set for annual meeting to discuss next phase of oil production policy | The National+1.5%

After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.

• Aug 22, 2022Oil pares losses after Saudi oilmin says OPEC+ has options including cuts+4.6%
• Jul 31, 2018Aramco unlikely to reduce oil exports to West after Houthi attack, analysts say | The National-2.5%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-4.8%
• Feb 13, 2023UAE energy minister: no need for early OPEC+ meeting-4.0%
• Nov 22, 2021OPEC considers lowering production to account for oil reserve releases-8.8%