# OPEC+ to hike crude output: Will it make a difference to oil prices? | Euronews

> OPEC+ members agreed to hike crude quotas by 206,000 bpd for May, but the increase is symbolic because oil cannot be exported until the Strait of Hormuz reopens. The eight participating countries include Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman.

- Date: 2026-04-06 · published 2026-04-06T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/19611-opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices-euronews
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Analysts expect little near-term price relief since the increase is under 2% of disrupted supply. Crude remains supported by the Hormuz closure, keeping energy costs for feed production high.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-04 | [OPEC+ crude output boost is symbolic, but it still matters \| Reuters](https://feedsoft.ai/events/19148-opec-crude-output-boost-is-symbolic-but-it-still-matters-reuters.md) | -6.3% | -9.2% |
| WTI | 2020-11-30 | [OPEC alliance fails to decide on output hike ahead of major meeting – Businessday NG](https://feedsoft.ai/events/50067-opec-alliance-fails-to-decide-on-output-hike-ahead-of-major-meeting-businessday.md) | +1.5% | +4.3% |
| WTI | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.4% | -1.9% |
| WTI | 2026-04-29 | [In five charts: How UAE's exit could affect Opec's influence over the oil price](https://feedsoft.ai/events/19884-in-five-charts-how-uae-s-exit-could-affect-opec-s-influence-over-the-oil-price.md) | +2.2% | -10.9% |
| WTI | 2026-04-05 | [OPEC+ agrees to boost oil output when Strait of Hormuz reopens \| Reuters](https://feedsoft.ai/events/19607-opec-agrees-to-boost-oil-output-when-strait-of-hormuz-reopens-reuters.md) | -13.2% | -7.5% |
| BRENT | 2026-05-04 | [OPEC+ crude output boost is symbolic, but it still matters \| Reuters](https://feedsoft.ai/events/19148-opec-crude-output-boost-is-symbolic-but-it-still-matters-reuters.md) | -9.5% | -14.6% |
| BRENT | 2020-11-30 | [OPEC alliance fails to decide on output hike ahead of major meeting – Businessday NG](https://feedsoft.ai/events/50067-opec-alliance-fails-to-decide-on-output-hike-ahead-of-major-meeting-businessday.md) | +3.5% | +7.0% |
| BRENT | 2020-10-19 | [OPEC Meeting Ends Without Firm Decision On Output Cuts \| OilPrice.com](https://feedsoft.ai/events/50550-opec-meeting-ends-without-firm-decision-on-output-cuts-oilprice-com.md) | -2.1% | +0.0% |

## Sources

- euronews.com: https://www.euronews.com/business/2026/04/06/opec-to-hike-crude-output-will-it-make-a-difference-to-oil-prices

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