Oil Minister: Our production has reached 5 million barrels per day, and talks are underway with OPEC to increase exports

After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.

• Oct 31, 2017Oil approaches 2-year highs but US export increase looms crude exports | The National+5.9%
• May 31, 2019Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries-6.9%
• May 27, 2019Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto-8.5%
• Jan 30, 2018Rising US oil exports, market disruption, Brent-WTI spread | Wood Mackenzie-2.3%
• Aug 23, 2019China strikes back at U.S. with new tariffs on $75 billion in goods | Reuters+2.4%

After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.

• May 31, 2019Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries-8.8%
• Jan 23, 2017OPEC's 'fantastic' cuts fail to lift oil as market frets over Trump's protectionist policies - Financial Post-0.2%
• Apr 4, 2025Tariffs, OPEC+, and Carbon Tax Removal Impact Diesel Prices | Breakthrough-9.8%
• Jan 4, 2017Oil: Top OPEC members put 'pedal to the metal' ahead of output cuts-3.3%
• Jun 3, 2019Oil falls as trade fears offset expectations for prolonged supply cuts-2.9%