# OPEC+ likely to proceed with planned output hike from October, sources say | Reuters

> OPEC+ is reportedly likely to go ahead with its planned oil output increase starting in October. The group, led by Saudi Arabia and Russia, is gradually restoring production that was halted since 2022.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28683-opec-likely-to-proceed-with-planned-output-hike-from-october-sources-say-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher OPEC+ supply tends to weigh on crude prices, which feed through to diesel, freight and fertilizer costs for feed producers. A pause would instead support crude and those input costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -14.2% | -15.6% |
| BRENT | 2024-09-26 | [OPEC+ set to go ahead with Dec oil output hike, sources say \| Reuters](https://feedsoft.ai/events/28237-opec-set-to-go-ahead-with-dec-oil-output-hike-sources-say-reuters.md) | -0.1% | +0.5% |
| BRENT | 2026-04-29 | [EXCLUSIVE: OPEC+ likely to agree another oil output hike without UAE, sources say \| Reuters](https://feedsoft.ai/events/19608-exclusive-opec-likely-to-agree-another-oil-output-hike-without-uae-sources-say.md) | -1.9% | -16.4% |
| BRENT | 2025-03-03 | [OPEC+ to proceed with planned April oil output hike](https://feedsoft.ai/events/25481-opec-to-proceed-with-planned-april-oil-output-hike.md) | -3.4% | +0.3% |
| BRENT | 2025-05-04 | [EXCLUSIVE: OPEC+ to further speed up oil output hikes, sources say \| Reuters](https://feedsoft.ai/events/24604-exclusive-opec-to-further-speed-up-oil-output-hikes-sources-say-reuters.md) | +4.3% | +6.8% |
| WTI | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -15.1% | -14.5% |
| WTI | 2024-09-26 | [OPEC+ set to go ahead with Dec oil output hike, sources say \| Reuters](https://feedsoft.ai/events/28237-opec-set-to-go-ahead-with-dec-oil-output-hike-sources-say-reuters.md) | +0.5% | +1.4% |
| WTI | 2026-04-29 | [EXCLUSIVE: OPEC+ likely to agree another oil output hike without UAE, sources say \| Reuters](https://feedsoft.ai/events/19608-exclusive-opec-likely-to-agree-another-oil-output-hike-without-uae-sources-say.md) | +2.2% | -10.9% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-likely-proceed-with-planned-output-hike-october-sources-say-2024-08-30/

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