OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn

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.

• Nov 7, 2018Return to oil production cuts in 2019 cannot be ruled out - OPEC sources-10.5%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Apr 12, 2020Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg-19.9%
• Nov 30, 2020OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR+1.5%
• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.5%

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.

• Nov 7, 2018Return to oil production cuts in 2019 cannot be ruled out - OPEC sources-8.3%
• Nov 30, 2018OPEC Advisory Committee Said to Recommend Oil Production Cut - Bloomberg+0.1%
• Apr 12, 2020Oil News: OPEC+ Deal to Cut Production Reached, Price War Ends - Bloomberg-6.7%
• Nov 30, 2020OPEC Meets To Decide Whether Cuts In Oil Production Are Still Needed : NPR+3.5%
• Feb 10, 2023OPEC+ Won’t Increase Oil Production Despite Russia Output Cut, Delegates Say - Bloomberg+0.6%