# Key members of OPEC+ alliance are putting off production increases amid slack crude prices | AP News

> OPEC+ members meeting online postponed production increases that had been scheduled to start January 1, 2025. The unwinding process has been pushed back to April 1, 2025, and increases will be phased in over 18 months until October 2026. The decision was taken amid weak crude prices.

- Date: 2024-12-05 · published 2024-12-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/26871-key-members-of-opec-alliance-are-putting-off-production-increases-amid-slack
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A delayed supply return keeps crude tighter for longer than previously planned, supporting energy prices. Higher fuel and freight costs would ripple into feed ingredient prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-12-05 | [OPEC+ members to delay oil production increases](https://feedsoft.ai/events/26872-opec-members-to-delay-oil-production-increases.md) | +0.6% | +4.3% |
| BRENT | 2022-02-02 | [Caution from OPEC+ producers to keep oil prices high \| AP News](https://feedsoft.ai/events/42630-caution-from-opec-producers-to-keep-oil-prices-high-ap-news.md) | +4.1% | +20.3% |
| BRENT | 2024-05-02 | [Oil alliance OPEC+ extends collective crude production cuts into 2025](https://feedsoft.ai/events/29653-oil-alliance-opec-extends-collective-crude-production-cuts-into-2025.md) | -0.6% | -2.2% |
| BRENT | 2026-10-04 | [OPEC+ Keeps November Oil Production Unchanged As Crude Prices Hold September Gains](https://feedsoft.ai/events/17215-opec-keeps-november-oil-production-unchanged-as-crude-prices-hold-september.md) | -0.9% | +2.2% |
| BRENT | 2016-11-30 | [Oil price rises sharply as Opec members hint at deal to limit production](https://feedsoft.ai/events/8570-oil-price-rises-sharply-as-opec-members-hint-at-deal-to-limit-production.md) | +16.7% | +22.1% |
| WTI | 2024-12-05 | [OPEC+ members to delay oil production increases](https://feedsoft.ai/events/26872-opec-members-to-delay-oil-production-increases.md) | +2.6% | +8.3% |
| WTI | 2022-02-02 | [Caution from OPEC+ producers to keep oil prices high \| AP News](https://feedsoft.ai/events/42630-caution-from-opec-producers-to-keep-oil-prices-high-ap-news.md) | +1.3% | +25.5% |
| WTI | 2024-05-02 | [Oil alliance OPEC+ extends collective crude production cuts into 2025](https://feedsoft.ai/events/29653-oil-alliance-opec-extends-collective-crude-production-cuts-into-2025.md) | -0.1% | -1.9% |

## Sources

- apnews.com: https://apnews.com/article/opec-oil-gas-prices-energy-7e3a7a4b86e966ba9b609e23825e4ccc

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