# Oil Prices Are Falling, but OPEC Plus Pledges to Pump More

> OPEC Plus said it would raise production by 188,000 barrels per day in August as oil prices were falling. The decision was made by the group's core members and some allies, including Russia.

- Date: 2026-08-01 · published 2026-08-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/18252-oil-prices-are-falling-but-opec-plus-pledges-to-pump-more
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The modest increase, combined with falling prices, points to a bearish crude backdrop that can ease fuel and input costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-07-07 | [OPEC+ is pumping more oil, but is it needed and at what price?](https://feedsoft.ai/events/23674-opec-is-pumping-more-oil-but-is-it-needed-and-at-what-price.md) | +2.2% | +0.7% |
| BRENT | 2021-07-19 | [Oil prices plunge on coronavirus threats, OPEC’s pledge to add barrels](https://feedsoft.ai/events/6363-oil-prices-plunge-on-coronavirus-threats-opec-s-pledge-to-add-barrels.md) | +0.6% | -4.4% |
| BRENT | 2019-03-01 | [Crude Oil Prices Fall On Trump's OPEC Tweet But U.S. Shale Boom Continues](https://feedsoft.ai/events/60777-crude-oil-prices-fall-on-trump-s-opec-tweet-but-u-s-shale-boom-continues.md) | +0.0% | +2.2% |
| BRENT | 2022-12-04 | [OPEC Plus opts against cutting production as oil prices fall - The Washington Post](https://feedsoft.ai/events/38138-opec-plus-opts-against-cutting-production-as-oil-prices-fall-the-washington-post.md) | -11.4% | -5.6% |
| BRENT | 2024-06-03 | [U.S. crude oil falls more than 3% as OPEC+ plans phasing out production cuts](https://feedsoft.ai/events/29656-u-s-crude-oil-falls-more-than-3-as-opec-plans-phasing-out-production-cuts.md) | -2.0% | +7.9% |
| WTI | 2025-07-07 | [OPEC+ is pumping more oil, but is it needed and at what price?](https://feedsoft.ai/events/23674-opec-is-pumping-more-oil-but-is-it-needed-and-at-what-price.md) | +2.4% | +0.7% |
| WTI | 2021-07-19 | [Oil prices plunge on coronavirus threats, OPEC’s pledge to add barrels](https://feedsoft.ai/events/6363-oil-prices-plunge-on-coronavirus-threats-opec-s-pledge-to-add-barrels.md) | +0.6% | -4.7% |
| WTI | 2019-03-01 | [Crude Oil Prices Fall On Trump's OPEC Tweet But U.S. Shale Boom Continues](https://feedsoft.ai/events/60777-crude-oil-prices-fall-on-trump-s-opec-tweet-but-u-s-shale-boom-continues.md) | -1.0% | +3.6% |

## Sources

- nytimes.com: https://www.nytimes.com/2026/07/05/business/opec-production-iran-war.html

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