Saudi crude oil output in August rises to 10.424 million b/d: OPEC source

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.

• Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+5.7%
• Jul 5, 2018Saudi Arabia raised oil output by around 500,000 bpd in June: sources | Reuters-3.9%
• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-1.3%
• Jul 12, 2017OPEC's oil output jumps again as the group struggles to end crude glut+2.7%
• Oct 30, 2020OPEC oil output rises by 210,000 bpd in October-survey | Financial Post+8.3%

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.

• Aug 31, 2023OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds | Reuters+6.4%
• Jul 5, 2018Saudi Arabia raised oil output by around 500,000 bpd in June: sources | Reuters-5.0%
• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-2.5%
• Jul 12, 2017OPEC's oil output jumps again as the group struggles to end crude glut+3.0%
• Oct 30, 2020OPEC oil output rises by 210,000 bpd in October-survey | Financial Post+7.3%