# OPEC+ not expected to change supply levels after market and price stabilisation - Offshore Technology

> Delegates say OPEC+ does not expect the upcoming monitoring session to change supply levels for the rest of the year. The group plans to gradually restore 2.2 million bpd of suspended crude from October. Prices have stabilised with Brent near $85 a barrel, and members are likely to wait and see how summer demand develops.

- Date: 2024-07-19 · published 2024-07-19T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/29163-opec-not-expected-to-change-supply-levels-after-market-and-price-stabilisation
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Holding supply steady through the rest of 2024 keeps the market tight in the near term, supporting energy and fuel costs. Dependence on summer demand means the price path remains uncertain for feed-related energy inputs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-08-22 | [OPEC's market share sinks - and no sign of wavering on supply cuts](https://feedsoft.ai/events/57501-opec-s-market-share-sinks-and-no-sign-of-wavering-on-supply-cuts.md) | +0.0% | +5.8% |
| BRENT | 2018-03-09 | [OPEC+ seven agree to maintain November production levels](https://feedsoft.ai/events/65936-opec-seven-agree-to-maintain-november-production-levels.md) | +1.0% | +4.8% |
| BRENT | 2026-04-05 | [OPEC+ states adjust production, reaffirm commitment to market stability - Shana](https://feedsoft.ai/events/19613-opec-states-adjust-production-reaffirm-commitment-to-market-stability-shana.md) | -9.7% | -4.1% |
| BRENT | 2021-08-27 | [OPEC+ faces mixed market signals after US pressure to increase oil supplies \| S&P Global](https://feedsoft.ai/events/45474-opec-faces-mixed-market-signals-after-us-pressure-to-increase-oil-supplies-s.md) | +3.6% | +8.6% |
| 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 | 2019-08-22 | [OPEC's market share sinks - and no sign of wavering on supply cuts](https://feedsoft.ai/events/57501-opec-s-market-share-sinks-and-no-sign-of-wavering-on-supply-cuts.md) | +0.2% | +4.5% |
| WTI | 2018-03-09 | [OPEC+ seven agree to maintain November production levels](https://feedsoft.ai/events/65936-opec-seven-agree-to-maintain-november-production-levels.md) | +1.7% | +3.2% |

## Sources

- offshore-technology.com: https://www.offshore-technology.com/news/opec-not-expected-to-change-supply-levels-after-market-and-price-stabilisation/

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