Iraq will cut oil production, comply with OPEC this month: Minister

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.

• Sep 5, 2022Oil: OPEC+ surprises energy markets with a small production cut+1.0%
• Mar 14, 2023OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence-9.5%
• Sep 17, 2020Oil reverses losses to gain 2% as OPEC urges compliance with production cuts-0.6%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+12.5%
• Nov 30, 2016OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers+12.5%

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.

• Sep 5, 2022Oil: OPEC+ surprises energy markets with a small production cut-0.9%
• Mar 14, 2023OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence-8.9%
• Sep 17, 2020Oil reverses losses to gain 2% as OPEC urges compliance with production cuts-0.7%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+16.7%
• Nov 30, 2016OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers+16.7%