OPEC oil output slips from 2017 high on renewed Libyan outages

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Dec 2, 2016Global LNG prices hit 2016 high as OPEC agrees oil output cut-0.5%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+12.6%
• Jul 31, 2019OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey-7.6%
• Jan 6, 2022Oil extends rally on Kazakhstan unrest and Libyan outages+6.1%
• Apr 1, 2019OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts+4.9%

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Dec 2, 2016Global LNG prices hit 2016 high as OPEC agrees oil output cut+2.7%
• Jan 3, 2019OPEC oil output posts biggest drop since 2017 on Saudi move+10.9%
• Jul 31, 2019OPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey-7.6%
• Jan 6, 2022Oil extends rally on Kazakhstan unrest and Libyan outages+5.6%
• Apr 1, 2019OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts+2.9%