Opec and Russia extend deal to cut oil production through 2018

After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.

• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-8.3%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-8.3%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.2%
• Sep 5, 2023Saudi Arabia, Russia extend oil production cuts to end of year+2.1%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+12.5%

After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.

• Jun 6, 2020OPEC and Russia Agree to Extend Oil Production Cuts - The New York Times-7.2%
• Jun 6, 2020OPEC and its allies reach deal to cut oil production through July | CNN Business-7.2%
• Jul 1, 2020Opec and allies extend oil production cuts to end of July+4.3%
• Sep 5, 2023Saudi Arabia, Russia extend oil production cuts to end of year+2.0%
• Nov 30, 2016Oil Surges on OPEC Deal to Cut Production - WSJ+16.7%