Oil rises nearly 1 percent as OPEC defers extension of output cuts

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.

• Nov 30, 2016Oil jumps over 10 percent as OPEC finalizes output cut deal | Reuters+12.5%
• Jun 5, 2020Oil prices spike as OPEC+ nears output cut extension, job market rallies | Fox Business-2.7%
• Dec 1, 2017Oil near 2½-year highs after OPEC extends output cuts-1.5%
• Nov 30, 2016Oil up more than 8 percent as OPEC finalizes output cut deal+12.5%
• Oct 1, 2022Oil up nearly 3% as OPEC+ agrees to small oil output cut+16.5%

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.

• Nov 30, 2016Oil jumps over 10 percent as OPEC finalizes output cut deal | Reuters+16.7%
• Jun 5, 2020Oil prices spike as OPEC+ nears output cut extension, job market rallies | Fox Business-2.7%
• Dec 1, 2017Oil near 2½-year highs after OPEC extends output cuts-2.0%
• Nov 30, 2016Oil up more than 8 percent as OPEC finalizes output cut deal+16.7%
• Oct 1, 2022Oil up nearly 3% as OPEC+ agrees to small oil output cut+11.3%