OPEC gets Iran green light to cut oil output by 0.8 million barrels per day: source

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.

• Nov 30, 2016Saudis to cut oil output by 0.5 million bpd in OPEC deal: source+12.5%
• Jun 4, 2023Opec+ cuts oil output to 40.46 million barrels per day throughout 2024 | Khaleej Times-2.2%
• Nov 30, 2016OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers+12.5%
• Dec 27, 2016Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal+0.0%
• Nov 30, 2023Riyadh to extend 1 million-barrel-per-day cut as OPEC+ holds policy-11.0%

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.

• Nov 30, 2016Saudis to cut oil output by 0.5 million bpd in OPEC deal: source+16.7%
• Jun 4, 2023Opec+ cuts oil output to 40.46 million barrels per day throughout 2024 | Khaleej Times-1.7%
• Nov 30, 2016OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers+16.7%
• Dec 27, 2016Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal+1.3%
• Nov 30, 2023Riyadh to extend 1 million-barrel-per-day cut as OPEC+ holds policy-10.5%