# OPEC+ Has Deal to Pause Planned Oil Hike for 2 Months: Delegate - Bloomberg

> OPEC+ agreed to pause a planned 180,000 barrel-per-day increase for October and November, with the full cut-unwinding timeline pushed back two months. The delay was reported through an OPEC statement.

- Date: 2024-09-05 · published 2024-09-05T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28240-opec-has-deal-to-pause-planned-oil-hike-for-2-months-delegate-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The pause removes near-term supply growth and supports crude prices after a sharp decline. Higher crude raises energy and transport costs across feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-04 | [Oil Latest: OPEC+ Panel Recommends Sticking to Plan for Gradual Supply Hikes - Bloomberg](https://feedsoft.ai/events/44444-oil-latest-opec-panel-recommends-sticking-to-plan-for-gradual-supply-hikes.md) | +4.6% | +9.9% |
| WTI | 2020-12-02 | [Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg](https://feedsoft.ai/events/49555-oil-hits-9-month-high-after-opec-agrees-to-gradual-output-hike-bloomberg.md) | +2.4% | +8.4% |
| WTI | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -2.7% | +1.0% |
| WTI | 2022-02-02 | [OPEC+ Agrees on Another Gradual Oil-Production Hike for March - Bloomberg](https://feedsoft.ai/events/42627-opec-agrees-on-another-gradual-oil-production-hike-for-march-bloomberg.md) | +1.3% | +25.5% |
| WTI | 2017-11-03 | [Oil Extends Surge as OPEC Signals Deal, Supply Threats Mount - Bloomberg](https://feedsoft.ai/events/68165-oil-extends-surge-as-opec-signals-deal-supply-threats-mount-bloomberg.md) | +4.8% | +7.0% |
| BRENT | 2021-10-04 | [Oil Latest: OPEC+ Panel Recommends Sticking to Plan for Gradual Supply Hikes - Bloomberg](https://feedsoft.ai/events/44444-oil-latest-opec-panel-recommends-sticking-to-plan-for-gradual-supply-hikes.md) | +3.7% | +5.5% |
| BRENT | 2020-12-02 | [Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg](https://feedsoft.ai/events/49555-oil-hits-9-month-high-after-opec-agrees-to-gradual-output-hike-bloomberg.md) | +3.4% | +8.1% |
| BRENT | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -4.4% | +1.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-09-05/opec-has-deal-to-pause-planned-oil-hike-for-2-months-delegate

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