Iraq presses OPEC to lift its 4.431 million bpd export quota for 2027 as October exports average 3.5 million bpd

After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.

• Jul 18, 2022OPEC+ Agrees to 100,000 bpd Oil Production Increase for September-2.2%
• Nov 6, 2019Oil markets fall as it is reported that OPEC+ members are not looking for another production cut — Octa-0.7%
• Jul 5, 2026OPEC+ approves further oil output increase as Hormuz exports start to recover | Reuters+3.9%
• Oct 3, 2025OPEC+ agrees to modest oil production increase for November+1.7%
• May 25, 2017OPEC and non-OPEC members agree to extend production cuts for nine months-5.4%

After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.

• Jul 18, 2022OPEC+ Agrees to 100,000 bpd Oil Production Increase for September-1.5%
• Nov 6, 2019Oil markets fall as it is reported that OPEC+ members are not looking for another production cut — Octa-1.1%
• Jul 5, 2026OPEC+ approves further oil output increase as Hormuz exports start to recover | Reuters+7.0%
• Oct 3, 2025OPEC+ agrees to modest oil production increase for November+2.2%
• May 25, 2017OPEC and non-OPEC members agree to extend production cuts for nine months-7.0%