OPEC moves to cap Nigerian oil output, boost production cut compliance

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.

• Aug 9, 2017OPEC secures output compliance pledges from 4 producers | AP News-3.1%
• Sep 17, 2020Oil reverses losses to gain 2% as OPEC urges compliance with production cuts-0.6%
• Oct 5, 2022OPEC+ agrees to cut oil production to boost sliding prices - Los Angeles Times+3.3%
• Oct 23, 2019OPEC+ countries to cut further oil production ABC.AZ+2.2%
• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%

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.

• Aug 9, 2017OPEC secures output compliance pledges from 4 producers | AP News-3.5%
• Sep 17, 2020Oil reverses losses to gain 2% as OPEC urges compliance with production cuts-0.7%
• Oct 5, 2022OPEC+ agrees to cut oil production to boost sliding prices - Los Angeles Times+2.1%
• Oct 23, 2019OPEC+ countries to cut further oil production ABC.AZ+2.0%
• Dec 7, 2018OPEC and allies agree to cut oil production+2.2%