Column: OPEC's output restraint tightens oil inventories and spreads

After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.

• May 28, 2025Oil gains on supply concerns, investors await July OPEC+ output decision+4.1%
• May 22, 2026Brent’s $100 Forecast May Understate the Risk of a Tighter Oil Market | Investing.com AU-9.1%
• Apr 12, 2017Syria, OPEC, and Oil Prices-5.5%
• Feb 1, 2017Oil Rises To 3-Week High as Dollar Slips, OPEC Cuts Output | Stock News & Stock Market Analysis - IBD-1.1%
• Dec 1, 2016C$ strengthens as oil extends rally on OPEC deal+0.8%

After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.

• May 28, 2025Oil gains on supply concerns, investors await July OPEC+ output decision+3.7%
• Jan 19, 2017Column - OPEC output cuts boost appeal of light crude, but market yet to respond: Russell+1.6%
• May 22, 2026Brent’s $100 Forecast May Understate the Risk of a Tighter Oil Market | Investing.com AU-11.3%
• Apr 12, 2017Syria, OPEC, and Oil Prices-5.0%
• Dec 1, 2016C$ strengthens as oil extends rally on OPEC deal+6.6%