OPEC reports 159% oil output conformity level in July

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.

• Oct 31, 2017OPEC oil output falls in October led by drop in Iraqi exports+5.9%
• Apr 25, 2018OPEC deal: Members, non-members achieve 149% conformity level - The Nation Newspaper-0.6%
• Nov 4, 2021OPEC+ rebuffs U.S. calls for speedier oil output increases+0.5%
• Jul 2, 2019OPEC, Russia Agree To Extend Oil Output Cuts Into 2020-2.2%
• Nov 21, 2019Oil Prices Surge as OPEC Looks to Cut Output | INN+2.2%

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.

• Oct 31, 2017OPEC oil output falls in October led by drop in Iraqi exports+5.8%
• Apr 25, 2018OPEC deal: Members, non-members achieve 149% conformity level - The Nation Newspaper+0.2%
• Nov 4, 2021OPEC+ rebuffs U.S. calls for speedier oil output increases+1.5%
• Jul 2, 2019OPEC, Russia Agree To Extend Oil Output Cuts Into 2020-0.9%
• Nov 21, 2019Oil Prices Surge as OPEC Looks to Cut Output | INN+2.3%