# OPEC+ agrees to delay December output hike for one month | Reuters

> OPEC+ agreed to delay a planned December 2024 output increase by one month, keeping supply restrained. The planned increase was part of unwinding a 2.2 million bpd cut.

- Date: 2024-11-03 · published 2024-11-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27301-opec-agrees-to-delay-december-output-hike-for-one-month-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Keeping crude supply tight supports oil prices, which feed into energy costs for feed milling and transport and influence biofuel-linked vegetable oil values.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-11-02 | [OPEC+ pauses oil output hikes beyond December amid glut fears \| Reuters](https://feedsoft.ai/events/21872-opec-pauses-oil-output-hikes-beyond-december-amid-glut-fears-reuters.md) | -2.0% | -3.4% |
| WTI | 2020-10-27 | [Column: OPEC+ set for a three-month output rollover](https://feedsoft.ai/events/50546-column-opec-set-for-a-three-month-output-rollover.md) | -4.6% | +11.7% |
| WTI | 2024-11-03 | [Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading](https://feedsoft.ai/events/27307-oil-rises-as-opec-delays-output-hike-election-roils-trading.md) | +1.3% | -2.1% |
| WTI | 2020-11-01 | [Oil Climbs With Russia in Talks on Delaying OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/50319-oil-climbs-with-russia-in-talks-on-delaying-opec-output-hike-bloomberg.md) | +3.7% | +26.8% |
| WTI | 2023-01-30 | [OPEC+ seen sticking with oil output policy at Feb. 1 meeting - delegates \| Reuters](https://feedsoft.ai/events/37685-opec-seen-sticking-with-oil-output-policy-at-feb-1-meeting-delegates-reuters.md) | -7.9% | -5.2% |
| BRENT | 2025-11-02 | [OPEC+ pauses oil output hikes beyond December amid glut fears \| Reuters](https://feedsoft.ai/events/21872-opec-pauses-oil-output-hikes-beyond-december-amid-glut-fears-reuters.md) | -2.4% | -2.5% |
| BRENT | 2020-10-27 | [Column: OPEC+ set for a three-month output rollover](https://feedsoft.ai/events/50546-column-opec-set-for-a-three-month-output-rollover.md) | -3.5% | +14.5% |
| BRENT | 2024-11-03 | [Oil Rises as OPEC+ Delays Output Hike, Election Roils Trading](https://feedsoft.ai/events/27307-oil-rises-as-opec-delays-output-hike-election-roils-trading.md) | +0.8% | +0.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/opec-agrees-delay-december-output-hike-one-month-sources-say-2024-11-03/

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