OPEC analysis shows need for a production cut of 1 million bpd

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.

• May 17, 2020OPEC recommends 1.5 million bpd additional output cut+13.5%
• Nov 30, 2020OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR+1.5%
• Dec 7, 2018The Latest: OPEC backs 6-month oil production cut package | AP News+2.2%
• Dec 7, 2018OPEC and non-OPEC nations agree on 1.2M barrel per day production cut - UPI.com+2.2%
• Jun 6, 2020OPEC and allies agree to extend record production cut-8.3%

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.

• May 17, 2020OPEC recommends 1.5 million bpd additional output cut+8.6%
• Nov 30, 2020OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR+3.5%
• Dec 7, 2018The Latest: OPEC backs 6-month oil production cut package | AP News+2.2%
• Dec 7, 2018OPEC and non-OPEC nations agree on 1.2M barrel per day production cut - UPI.com+2.2%
• Jun 6, 2020OPEC and allies agree to extend record production cut-7.2%