OPEC Should Boost Crude Production at Next Meeting, the IEA Says

After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.

• Oct 23, 2018OPEC's in `Produce as Much as You Can Mode,' Al-Falih Says - Bloomberg-3.2%
• Feb 24, 2021OPEC+ Considers Production Increase At March Meeting | OilPrice.com-3.2%
• May 25, 2018Russia and Opec agree to boost oil production – The Irish Times-7.0%
• Jun 1, 2021OPEC to raise oil production in July, stays mum on what’s next+4.4%
• Jun 3, 2024U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts-1.9%

After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.

• Oct 23, 2018OPEC's in `Produce as Much as You Can Mode,' Al-Falih Says - Bloomberg-3.4%
• Feb 24, 2021OPEC+ Considers Production Increase At March Meeting | OilPrice.com-3.6%
• May 25, 2018Russia and Opec agree to boost oil production – The Irish Times-3.5%
• Jun 1, 2021OPEC to raise oil production in July, stays mum on what’s next+2.4%
• Jun 3, 2024U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts-2.0%