OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts

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%
• Jan 8, 2018OPEC not to change oil output on Iran,Venezuela instability - Mubasher Info+2.9%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+10.9%
• May 16, 2020OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg+8.6%
• Feb 27, 2024OPEC+ to consider extending voluntary oil output cuts, sources say+1.7%

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%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+12.6%
• May 16, 2020OPEC+ Supply Cuts: Latest Oil Market News on Output Status - Bloomberg+13.5%
• Feb 27, 2024OPEC+ to consider extending voluntary oil output cuts, sources say+1.5%
• Aug 31, 2017OPEC oil output slips from 2017 high on renewed Libyan outages+6.8%