OPEC's oil output plunges as Saudis slash output

After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.

• Sep 12, 2017Oil edges up as OPEC output falls, offsets hurricane concerns+2.7%
• Mar 31, 2023OPEC oil output falls on Angola, Iraq outages - Reuters survey+8.8%
• May 31, 2019OPEC Oil Output Set For Drop Despite Saudi Production Boost | OilPrice.com-8.8%
• Jul 31, 2023OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds | Reuters+2.4%
• Jan 19, 2018IEA Sees Oil Markets Tightening as PDVSA Output+2.0%

After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.

• Sep 12, 2017Oil edges up as OPEC output falls, offsets hurricane concerns+3.8%
• Mar 31, 2023OPEC oil output falls on Angola, Iraq outages - Reuters survey+8.6%
• May 31, 2019OPEC Oil Output Set For Drop Despite Saudi Production Boost | OilPrice.com-6.9%
• Jul 31, 2023OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds | Reuters+2.8%
• Jan 19, 2018IEA Sees Oil Markets Tightening as PDVSA Output+2.5%