Saudi Arabia leads further jump in OPEC+ oil output despite war

After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-1.3%
• Jul 5, 2018Saudi Arabia raised oil output by around 500,000 bpd in June: sources | Reuters-3.9%
• Aug 31, 2018OPEC August oil output hits 2018 high despite Iran losses: Reuters survey | Reuters-1.7%
• Oct 31, 2019OPEC October oil output jumps on swift Saudi recovery: Reuters survey By Reuters+2.5%
• Aug 31, 2018Saudi crude oil output in August rises to 10.424 million b/d: OPEC source-1.7%

After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-2.5%
• Jul 5, 2018Saudi Arabia raised oil output by around 500,000 bpd in June: sources | Reuters-5.0%
• Aug 31, 2018OPEC August oil output hits 2018 high despite Iran losses: Reuters survey | Reuters-3.6%
• Oct 31, 2019OPEC October oil output jumps on swift Saudi recovery: Reuters survey By Reuters+2.4%
• Aug 31, 2018Saudi crude oil output in August rises to 10.424 million b/d: OPEC source-3.6%