What if OPEC+ unwinds all its output cuts at once?
An OPEC+ surprise unwind of all cuts at once dumps millions of barrels and collapses the curve into contango; short Brent, long airlines, and disinflation-as-tailwind are the trades. Rhymes with the Mar-2020 OPEC+ breakup and the post-cut-removal gluts, which sent prompt prices and energy equities sharply lower. Transmission: a price collapse is a tax cut for importers and fuel-heavy sectors at producers' expense; forward angle: with global demand growth slowing and EVs eating marginal barrels in 2026, an all-at-once unwind risks a deeper, stickier glut than prior coordinated exits.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 0–6 months horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a risk-on shock. OPEC+ unexpectedly unwinds all cuts at once, dumping millions of barrels and collapsing the curve. The trigger decomposes into signed root‑shocks — Oil supply risk ▼ · Risk appetite ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | Brent crude BRENTon Hyperliquid 📈 chart | Commodity | ▼ -6.6% hist -7.25–-4.3% · other way -4.83% (n=10) |
| 2 | WTI crude CLon Hyperliquid 📈 chart | Commodity | ▼ -5.5% hist -11.01–+1.56% · other way -5.83% (n=10) |
| 3 | Energy sector XLEon Hyperliquid 📈 chart | Equity | ▼ -3.9% hist -4.25–-1.84% · other way -3.23% (n=10) |
| 4 | United Airlines UAL 📈 chart | Equity | ▲ +3.3% hist -3.72–+9.55% · other way +16.17% (n=10) |
| 5 | ExxonMobil XOM 📈 chart | Equity | ▼ -2.8% hist -4.94–+0.64% · other way -1.86% (n=12) |
| 6 | Chevron CVX 📈 chart | Equity | ▼ -2.5% hist -4.41–+0.48% · other way -1.89% (n=12) |
| 7 | Delta DAL 📈 chart | Equity | ▲ +2.8% hist -2.95–+8.78% · other way +6.61% (n=10) |
| 8 | Nasdaq 100 NDXon Hyperliquid 📈 chart | Index | ▲ +1.6% hist +0.51–+1.86% · other way +0.35% (n=10) |
| 9 | MicroStrategy MSTRon Hyperliquid 📈 chart | Equity | ▲ +1.5% hist -9.24–+12.21% · other way +6.08% (n=10) |
| 10 | Tech sector XLK 📈 chart | Equity | ▲ +1.5% hist +0.82–+1.53% · other way +0.34% (n=10) |
| 11 | Solana SOLon Hyperliquid 📈 chart | Crypto | ▲ +1.2% hist -1.31–+3.6% · other way +0.19% (n=7) |
| 12 | Bitcoin BTCon Hyperliquid 📈 chart | Crypto | ▲ +1.1% hist -9.93–+13.74% · other way +2.56% (n=9) |
| 13 | Hyperliquid (HYPE) HYPEon Hyperliquid | Crypto | ▲ +1.0% model prior · unmeasured |
| 14 | Ether ETHon Hyperliquid 📈 chart | Crypto | ▲ +1.0% hist -3.76–+6.0% · other way +1.46% (n=8) |
Probable recommendation
Why we may diverge from history
Trust the cascade LONG on ARM: the -7.2% print draws on unrelated rate/metals/Venezuela windows, none an oil-supply flood, on a newly-listed AI name; thin off-channel sample, not a real OPEC+ surge signal.
Historical precedent — what analogous events actually did
Across 6 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| HOOD HOOD | LONG | +24.2% · 5d +5.6% | 100% | 3 | 0.80 | ✓ matches cascade |
| DAL DAL | LONG | +7.0% · 5d +0.3% | 83% | 5 | 0.57 | ✓ matches cascade |
| Volatility VIX | SHORT | -8.9% · 5d -8.7% | 86% | 6 | 0.57 | ✓ matches cascade |
| XHB XHB | LONG | +1.1% · 5d -2.1% ↺ fades | 83% | 5 | 0.53 | ✓ matches cascade |
| XOM XOM | SHORT | -3.1% · 5d -0.2% | 86% | 6 | 0.52 | ✓ matches cascade |
| USDJPY USDJPY | SHORT | -0.1% · 5d +0.1% ↺ fades | 83% | 5 | 0.45 | ✓ matches cascade |
| GBPUSD GBPUSD | SHORT | -1.7% · 5d -0.3% | 75% | 5 | 0.40 | ⚠ differs |
| SPX SPX | LONG | +3.1% · 5d +0.6% | 71% | 6 | 0.38 | ✓ matches cascade |
| INR INR | LONG | +0.5% · 5d +0.7% | 75% | 5 | 0.33 | ✓ matches cascade |
| Bitcoin BTC | LONG | +13.7% · 5d -3.9% ↺ fades | 70% | 4 | 0.32 | ✓ matches cascade |
| UAL UAL | LONG | +7.1% · 5d -2.5% ↺ fades | 67% | 5 | 0.29 | ✓ matches cascade |
| ETH ETH | LONG | +5.5% · 5d -3.9% ↺ fades | 70% | 4 | 0.28 | ✓ matches cascade |
| TRY TRY | LONG | +1.1% · 5d +1.7% | 75% | 5 | 0.28 | ✓ matches cascade |
| CVX CVX | SHORT | -2.4% · 5d +0.0% ↺ fades | 64% | 6 | 0.23 | ✓ matches cascade |
Why this probability
OPEC+ already unwinding cuts gradually; all-at-once dump less likely than measured taper. A base‑rate‑anchored prior, continuously scored against what actually happens — not a forecast.