OPEC’s Output Rose in July Despite Decline in Saudi Oil Production

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 11, 2018OPEC hikes oil output in September as Iran's production falls-4.2%
• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-2.3%
• Aug 31, 2018Saudi crude oil output in August rises to 10.424 million b/d: OPEC source-1.7%
• Jul 31, 2020OPEC oil output rises by 970,000 bpd in July - survey | Financial Post+4.9%
• Nov 14, 2022OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg-8.2%

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 11, 2018OPEC hikes oil output in September as Iran's production falls-4.8%
• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-0.3%
• Aug 31, 2018Saudi crude oil output in August rises to 10.424 million b/d: OPEC source-3.6%
• Jul 31, 2020OPEC oil output rises by 970,000 bpd in July - survey | Financial Post+5.2%
• Nov 14, 2022OPEC Cuts Oil Demand Outlook as It Starts to Curb Production - Bloomberg-10.1%