Saudi Arabia to Extend Deep Oil Output Cuts Into April

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.

• Mar 4, 2021OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb+5.2%
• Dec 1, 2023OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts | Euronews-9.9%
• Jul 2, 2019OPEC, Russia Agree To Extend Oil Output Cuts Into 2020-0.9%
• Jan 1, 2025OPEC+ delays oil output hike until April, extends cuts into 2026+2.9%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-4.2%

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.

• Mar 4, 2021OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb+5.1%
• Dec 1, 2023OPEC+ meeting: Russia and Saudi Arabia extend oil output cuts | Euronews-8.8%
• Jul 2, 2019OPEC, Russia Agree To Extend Oil Output Cuts Into 2020-2.2%
• Jan 1, 2025OPEC+ delays oil output hike until April, extends cuts into 2026+2.2%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-1.4%