OPEC hikes oil output in September as Iran's production falls

After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

• Oct 1, 2018OPEC oil output boost in September limited by Iran losses: Reuters survey+1.5%
• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-2.5%
• Sep 29, 2017OPEC oil output rises by 50,000 bpd in September - Reuters survey-1.6%
• Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+6.4%
• Nov 14, 2022OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg-10.1%

After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

• Oct 1, 2018OPEC oil output boost in September limited by Iran losses: Reuters survey+2.3%
• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-1.3%
• Sep 29, 2017OPEC oil output rises by 50,000 bpd in September - Reuters survey-1.8%
• Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+5.7%
• Nov 14, 2022OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg-8.2%