Oil Prices Fall Below $93 as OPEC+ Restores 97% of Prewar Production

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.

• Oct 11, 2018OPEC hikes oil output in September as Iran's production falls-4.2%
• Nov 29, 2017Oil supply outages fall as OPEC decides on extension of production restraint agreement Report | Wood Mackenzie-0.7%
• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-2.3%
• Mar 31, 2021OPEC cuts global oil demand estimates ahead of production decision-1.9%
• Mar 9, 2017WTI oil prices fall below $50 for first time since December-3.7%

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.

• Oct 11, 2018OPEC hikes oil output in September as Iran's production falls-4.8%
• Mar 9, 2017Oil price falls below $50 as U.S. supplies hit record-2.9%
• Nov 29, 2017Oil supply outages fall as OPEC decides on extension of production restraint agreement Report | Wood Mackenzie-0.6%
• Jul 30, 2018OPEC Oil Production Hits 2018 High In July | OilPrice.com-0.3%
• Mar 31, 2021OPEC cuts global oil demand estimates ahead of production decision-1.3%