# OPEC+ Leans Toward Proceeding With Output Hike, Delegates Say - Bloomberg

> Delegates say OPEC+ leans toward proceeding with a 180,000 barrels-per-day output increase. The increase is part of the group's plan to gradually restore production 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/28684-opec-leans-toward-proceeding-with-output-hike-delegates-say-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A confirmed supply increase adds to crude availability and pressures oil prices, lowering energy and freight costs for feed buyers. The decision is still tentative and could change.

## 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 | 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 | 2024-08-30 | [OPEC+ likely to proceed with planned output hike from October, sources say \| Reuters](https://feedsoft.ai/events/28683-opec-likely-to-proceed-with-planned-output-hike-from-october-sources-say-reuters.md) | -8.9% | -10.4% |
| BRENT | 2025-10-27 | [OPEC+ Base Case Scenario Is Small Hike for Now, Delegates Say - Bloomberg](https://feedsoft.ai/events/22307-opec-base-case-scenario-is-small-hike-for-now-delegates-say-bloomberg.md) | -0.9% | -4.9% |
| BRENT | 2021-12-02 | [Oil Plunges 4.8% as Russia Is Said to Propose OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/6306-oil-plunges-4-8-as-russia-is-said-to-propose-opec-output-hike-bloomberg.md) | +9.7% | +14.1% |
| 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 | 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) | -3.9% | -0.4% |
| WTI | 2024-08-30 | [OPEC+ likely to proceed with planned output hike from October, sources say \| Reuters](https://feedsoft.ai/events/28683-opec-likely-to-proceed-with-planned-output-hike-from-october-sources-say-reuters.md) | -10.8% | -10.5% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-08-30/opec-leans-toward-proceeding-with-output-hike-delegates-say

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