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A limited fire broke out after Saudi Arabia’s East-West pipeline was targeted in the Medina region on November 9; officials said there were no casualties or operational disruption. A Reuters survey put OPEC crude output in October at 22.87 million barrels per day, up 1.38 million bpd from September and about 90% of its pre-war rate.
Higher OPEC output adds crude supply and can weigh on oil prices, while the unsuccessful pipeline attack did not interrupt flows. This suggests a reduced immediate supply-risk premium.
piqmarkets.comNov 9, 2026After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
