# OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters

> OPEC+ is reportedly discussing a delay to its planned October oil output increase, according to sources. The move follows falling oil prices driven by concerns about a weak global economy and soft data from China, the world's largest oil importer.

- Date: 2024-09-04 · published 2024-09-04T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11570-opec-discussing-delay-to-planned-oil-output-hike-in-october-sources-say-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A delayed OPEC+ supply increase would tighten the market somewhat, partly offsetting weak demand and giving crude some support.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -2.7% | +1.0% |
| WTI | 2021-10-04 | [OPEC+ agrees to stick to existing oil output plan, sources say \| Reuters](https://feedsoft.ai/events/44443-opec-agrees-to-stick-to-existing-oil-output-plan-sources-say-reuters.md) | +4.6% | +9.9% |
| WTI | 2024-10-30 | [OPEC+ could delay December oil output hike, sources say](https://feedsoft.ai/events/27766-opec-could-delay-december-oil-output-hike-sources-say.md) | +7.1% | +2.3% |
| WTI | 2024-05-30 | [OPEC+ discuss keeping voluntary oil cuts until year-end, sources say \| Reuters](https://feedsoft.ai/events/30157-opec-discuss-keeping-voluntary-oil-cuts-until-year-end-sources-say-reuters.md) | -6.5% | +3.4% |
| WTI | 2019-06-29 | [Russia agrees with Saudi Arabia to extend OPEC+ oil output deal - Reuters](https://feedsoft.ai/events/58525-russia-agrees-with-saudi-arabia-to-extend-opec-oil-output-deal-reuters.md) | -1.4% | -2.5% |
| BRENT | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -4.4% | +1.0% |
| BRENT | 2021-10-04 | [OPEC+ agrees to stick to existing oil output plan, sources say \| Reuters](https://feedsoft.ai/events/44443-opec-agrees-to-stick-to-existing-oil-output-plan-sources-say-reuters.md) | +3.7% | +5.5% |
| BRENT | 2024-10-30 | [OPEC+ could delay December oil output hike, sources say](https://feedsoft.ai/events/27766-opec-could-delay-december-oil-output-hike-sources-say.md) | +7.2% | +3.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-09-04/opec-close-to-delaying-oil-supply-increase-delegates-say
- reuters.com: https://www.reuters.com/markets/commodities/opec-discussing-delay-planned-oil-output-hike-october-sources-say-2024-09-04/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.