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OPEC+ crude output rose by 2.04 million barrels per day in October to 41.23 million, led by a sharp recovery in Saudi Arabia. Brent was trading in the low US$90s on November 12, with WTI in the mid-US$80s.
A faster supply recovery eases the tightness in the global crude balance and puts downward pressure on prices. Strait of Hormuz risks still limit how far prices can fall.
commodity-board.comCMB NewsNov 12, 2026After 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.
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.
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.
