Oil treads water with OPEC silence on extension

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.

• Oct 9, 2017Oil prices climb after OPEC signals possible deal extension+2.6%
• Jun 30, 2019Oil prices edge up on hopes of supply cuts extension by OPEC-4.2%
• May 25, 2017Supply concerns trigger oil price plunge after OPEC extension | Offshore Magazine-7.0%
• Jul 31, 2017OPEC set to meet with allies on compliance | The Greater Middle East+0.4%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-4.2%

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.

• Oct 9, 2017Oil prices climb after OPEC signals possible deal extension+4.3%
• Jun 30, 2019Oil prices edge up on hopes of supply cuts extension by OPEC-1.4%
• May 25, 2017Supply concerns trigger oil price plunge after OPEC extension | Offshore Magazine-5.4%
• Jul 31, 2017OPEC set to meet with allies on compliance | The Greater Middle East-0.3%
• Jun 29, 2019Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters-1.4%