OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey

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.

• Oct 1, 2019OPEC oil output sinks to lowest since 2011 after Saudi attacks: Reuters survey-3.3%
• Jun 26, 2019Trump's sanctions cut more OPEC oil output than OPEC itself | Reuters-4.7%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+10.9%
• Apr 1, 2019OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts+2.9%
• Oct 22, 2025US hits top Russian oil companies with sanctions, EU bans Russian LNG | Reuters+5.0%

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.

• Oct 1, 2019OPEC oil output sinks to lowest since 2011 after Saudi attacks: Reuters survey-2.5%
• Jun 26, 2019Trump's sanctions cut more OPEC oil output than OPEC itself | Reuters-2.8%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+12.6%
• Apr 1, 2019OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts+4.9%
• Dec 3, 2024Oil rises on fears about Lebanon, further OPEC+ supply cuts | Reuters+0.4%