# OPEC+ sticks to oil policy, repeats could pause Oct hike

> OPEC+ is currently cutting output by a total of 5.86 million barrels per day, about 5.7% of global demand. The group has not ruled out pausing its planned October hike.

- Date: 2024-08-01 · published 2024-08-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28690-opec-sticks-to-oil-policy-repeats-could-pause-oct-hike
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The existing cuts keep supply tight, while the possibility of a pause would support crude prices. The outcome affects diesel and freight costs for feed businesses.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-02-03 | [OPEC+ sticks to oil policy, ditches US government data](https://feedsoft.ai/events/25942-opec-sticks-to-oil-policy-ditches-us-government-data.md) | -2.9% | -3.9% |
| BRENT | 2022-05-05 | [OPEC+ sticks to modest oil output hike despite price rally](https://feedsoft.ai/events/41317-opec-sticks-to-modest-oil-output-hike-despite-price-rally.md) | -2.5% | +8.0% |
| BRENT | 2021-12-02 | [OPEC+ Sticks to Planned Supply Hike But Adds a Get-Out Clause - TT](https://feedsoft.ai/events/43504-opec-sticks-to-planned-supply-hike-but-adds-a-get-out-clause-tt.md) | +9.7% | +14.1% |
| BRENT | 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) | +3.3% | +16.7% |
| BRENT | 2021-08-27 | [OPEC stays the course on output hikes as oil prices rebound](https://feedsoft.ai/events/45475-opec-stays-the-course-on-output-hikes-as-oil-prices-rebound.md) | +3.6% | +8.6% |
| WTI | 2025-02-03 | [OPEC+ sticks to oil policy, ditches US government data](https://feedsoft.ai/events/25942-opec-sticks-to-oil-policy-ditches-us-government-data.md) | -2.1% | -5.8% |
| WTI | 2022-05-05 | [OPEC+ sticks to modest oil output hike despite price rally](https://feedsoft.ai/events/41317-opec-sticks-to-modest-oil-output-hike-despite-price-rally.md) | -2.1% | +8.4% |
| WTI | 2024-10-02 | [OPEC+ panel sticks to output policy, doubles down on compliance](https://feedsoft.ai/events/27767-opec-panel-sticks-to-output-policy-doubles-down-on-compliance.md) | +5.4% | -4.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-likely-stick-output-policy-meeting-sources-say-2024-08-01/

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