Oman Oil Minister: Majority of OPEC and its Allies Support 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%
• Oct 19, 2020OPEC Pledges Action To Support Weak Oil Demand-2.4%
• Aug 29, 2022Oil prices climb on OPEC supply cut prospect, rise in demand-6.7%
• Nov 16, 2020OPEC+ Meetings Consider Further Action To Support Oil Market+5.1%
• Dec 3, 2024Oil rises on fears about Lebanon, further OPEC+ supply cuts | Reuters+0.4%

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%
• Oct 19, 2020OPEC Pledges Action To Support Weak Oil Demand-2.1%
• Aug 29, 2022Oil prices climb on OPEC supply cut prospect, rise in demand-7.9%
• Nov 16, 2020OPEC+ Meetings Consider Further Action To Support Oil Market+5.3%
• Dec 3, 2024Oil rises on fears about Lebanon, further OPEC+ supply cuts | Reuters+0.8%