Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal

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.

• Dec 7, 2018OPEC gets Iran green light to cut oil output by 0.8 million barrels per day: source+2.2%
• Dec 6, 2019OPEC, allies to lower oil output 500,000 barrels more+1.3%
• Jun 4, 2023Opec+ cuts oil output to 40.46 million barrels per day throughout 2024 | Khaleej Times-2.2%
• Nov 30, 2016US crude settles up 9.3 percent after OPEC finalizes output cut deal+12.5%
• Feb 2, 2022OPEC+ ministerial talks on output increase by 400,000 barrels per day in March completed - Business & Economy - TASS+1.3%

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.

• Dec 7, 2018OPEC gets Iran green light to cut oil output by 0.8 million barrels per day: source+2.2%
• Dec 6, 2019OPEC, allies to lower oil output 500,000 barrels more+1.4%
• Jun 4, 2023Opec+ cuts oil output to 40.46 million barrels per day throughout 2024 | Khaleej Times-1.7%
• Nov 30, 2016US crude settles up 9.3 percent after OPEC finalizes output cut deal+16.7%
• Feb 2, 2022OPEC+ ministerial talks on output increase by 400,000 barrels per day in March completed - Business & Economy - TASS+4.1%