OPEC and non-OPEC nations agree on 1.2M barrel per day production cut

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.

• Apr 9, 2020OPEC and allies agree to historic 10 million barrel per day oil cut-20.7%
• Jun 6, 2020OPEC and allies agree to extend record production cut-8.3%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• May 11, 2018Iranian Oil Squeeze Could Upset OPEC Agreement on Production Cuts+0.2%
• Nov 12, 2018OPEC analysis shows need for a production cut of 1 million bpd-6.2%

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.

• Apr 9, 2020OPEC and allies agree to historic 10 million barrel per day oil cut-20.8%
• Jun 6, 2020OPEC and allies agree to extend record production cut-7.2%
• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+2.2%
• May 11, 2018Iranian Oil Squeeze Could Upset OPEC Agreement on Production Cuts+2.8%
• Nov 12, 2018OPEC analysis shows need for a production cut of 1 million bpd-5.1%

After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.

• Dec 7, 2018OPEC and Russia agree to slash oil production | CNN Business+1.1%
• Mar 8, 2026Crude oil sells above $100 a barrel as Iran war impedes production | AP News+10.4%
• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg-0.8%
• Jan 17, 2025International Diesel Prices Surge After U.S. Sanctions on Russia | OilPrice.com-3.6%
• Mar 29, 2019Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions+2.1%