# Oil prices up; strong demand outweighs surprisingly big OPEC+ output hike | Reuters

> OPEC+ agreed to raise output by 548,000 bpd for August, larger than the prior three monthly hikes of 411,000 bpd. Brent settled up 1.9% at $69.58 and WTI rose 1.4% to $67.93 as demand held above expectations.

- Date: 2025-07-07 · published 2025-07-07T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/23929-oil-prices-up-strong-demand-outweighs-surprisingly-big-opec-output-hike-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Larger OPEC+ supply additions add to the outlook for a surplus, but firm demand kept prices up. Crude moves feed through to diesel costs and vegetable oil biofuel economics.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |
| WTI | 2026-10-26 | [Rupee falls for third straight session, ends at 95.19 as oil prices and importer demand weigh](https://feedsoft.ai/events/17312-rupee-falls-for-third-straight-session-ends-at-95-19-as-oil-prices-and-importer.md) | -3.2% | — |
| WTI | 2017-09-29 | [Arab News \| Middle East OPEC producers fret oil price rally may burn out](https://feedsoft.ai/events/69122-arab-news-middle-east-opec-producers-fret-oil-price-rally-may-burn-out.md) | -1.6% | +1.7% |
| WTI | 2021-09-10 | [Arab News \| OPEC may cut demand forecast; US and China release oil from strategic reserves: Market wrap](https://feedsoft.ai/events/45237-arab-news-opec-may-cut-demand-forecast-us-and-china-release-oil-from-strategic.md) | +6.5% | +14.9% |
| WTI | 2017-03-15 | [Will A Fed Rate Hike Boost The Price Of Oil? \| Investing.com](https://feedsoft.ai/events/71924-will-a-fed-rate-hike-boost-the-price-of-oil-investing-com.md) | -0.6% | +12.6% |
| BRENT | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.1% | -0.6% |
| BRENT | 2025-01-30 | [Oil Prices Hold Steady As Markets Await US Tariff Decisions, OPEC+ Meeting](https://feedsoft.ai/events/26669-oil-prices-hold-steady-as-markets-await-us-tariff-decisions-opec-meeting.md) | -2.8% | -4.9% |
| BRENT | 2017-09-29 | [Arab News \| Middle East OPEC producers fret oil price rally may burn out](https://feedsoft.ai/events/69122-arab-news-middle-east-opec-producers-fret-oil-price-rally-may-burn-out.md) | -1.8% | +1.6% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-strong-demand-outweighs-larger-than-expected-opec-output-hike-2025-07-07/

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