# OPEC+ Makes No Changes to Plans for Reviving Oil Production | Financial Post

> Bloomberg reports that OPEC+ made no changes to its plan to gradually revive production, starting with a 180,000 bpd hike in December. Oil was around $75 a barrel, down 14% from July, after a brief rally on Iran's strikes on Israel.

- Date: 2024-10-02 · published 2024-10-02T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/27769-opec-makes-no-changes-to-plans-for-reviving-oil-production-financial-post
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Unchanged supply plans with weak China demand and rising Americas supply keep crude under pressure, which lowers energy input costs for feed producers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-01-29 | [No changes to oil production policy expected at OPEC+ meeting](https://feedsoft.ai/events/32041-no-changes-to-oil-production-policy-expected-at-opec-meeting.md) | -7.3% | -0.1% |
| WTI | 2023-03-16 | [OPEC to wait for calmer financial markets before making oil production cut decision](https://feedsoft.ai/events/36771-opec-to-wait-for-calmer-financial-markets-before-making-oil-production-cut.md) | +4.9% | +21.8% |
| WTI | 2026-10-05 | [OPEC 7 Reveal Production Plan for November](https://feedsoft.ai/events/17058-opec-7-reveal-production-plan-for-november.md) | +0.8% | +8.4% |
| WTI | 2022-01-04 | [OPEC+ sticks to existing production policy for February](https://feedsoft.ai/events/43064-opec-sticks-to-existing-production-policy-for-february.md) | +2.8% | +16.0% |
| WTI | 2025-02-05 | [MEED \| Opec+ decides to adhere to oil production policy](https://feedsoft.ai/events/25947-meed-opec-decides-to-adhere-to-oil-production-policy.md) | +0.9% | -8.8% |
| BRENT | 2024-01-29 | [No changes to oil production policy expected at OPEC+ meeting](https://feedsoft.ai/events/32041-no-changes-to-oil-production-policy-expected-at-opec-meeting.md) | -6.0% | -0.7% |
| BRENT | 2023-03-16 | [OPEC to wait for calmer financial markets before making oil production cut decision](https://feedsoft.ai/events/36771-opec-to-wait-for-calmer-financial-markets-before-making-oil-production-cut.md) | +3.2% | +16.6% |
| BRENT | 2026-10-05 | [OPEC 7 Reveal Production Plan for November](https://feedsoft.ai/events/17058-opec-7-reveal-production-plan-for-november.md) | -0.9% | +2.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/opec-makes-no-changes-to-plans-for-reviving-oil-production

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