# OPEC+ boosts output by 220,000 b/d as some members recoup recent losses: Platts survey

> OPEC+ raised output by 220,000 b/d in October, according to a Platts survey, despite a pledged 100,000 b/d cut. Kazakhstan, Russia and Iraq gains offset losses in Saudi Arabia and Angola, lifting total output to 43.23 million b/d, the highest in two and a half years. Only five of the 22 coalition countries reduced production.

- Date: 2022-11-07 · published 2022-11-07T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/38591-opec-boosts-output-by-220-000-b-d-as-some-members-recoup-recent-losses-platts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher-than-expected output adds crude supply and eases energy prices, which lowers costs for fuel and fertilizer. The sizeable gap between quotas and actual production also suggests future cuts may be needed to balance the market.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-10-01 | [OPEC oil output boost in September limited by Iran losses: Reuters survey](https://feedsoft.ai/events/62456-opec-oil-output-boost-in-september-limited-by-iran-losses-reuters-survey.md) | +2.3% | -6.3% |
| BRENT | 2017-09-29 | [OPEC oil output rises by 50,000 bpd in September - Reuters survey](https://feedsoft.ai/events/68863-opec-oil-output-rises-by-50-000-bpd-in-september-reuters-survey.md) | -1.8% | +1.6% |
| BRENT | 2018-08-31 | [OPEC August oil output hits 2018 high despite Iran losses: Reuters survey \| Reuters](https://feedsoft.ai/events/63440-opec-august-oil-output-hits-2018-high-despite-iran-losses-reuters-survey-reuters.md) | -1.7% | +5.5% |
| BRENT | 2020-10-30 | [OPEC oil output rises by 210,000 bpd in October-survey \| Financial Post](https://feedsoft.ai/events/50549-opec-oil-output-rises-by-210-000-bpd-in-october-survey-financial-post.md) | +8.3% | +27.9% |
| BRENT | 2024-02-29 | [OPEC oil output rises by 90,000 bpd in February, survey finds \| Reuters](https://feedsoft.ai/events/31565-opec-oil-output-rises-by-90-000-bpd-in-february-survey-finds-reuters.md) | +1.0% | +1.9% |
| WTI | 2018-10-01 | [OPEC oil output boost in September limited by Iran losses: Reuters survey](https://feedsoft.ai/events/62456-opec-oil-output-boost-in-september-limited-by-iran-losses-reuters-survey.md) | +1.5% | -7.7% |
| WTI | 2017-09-29 | [OPEC oil output rises by 50,000 bpd in September - Reuters survey](https://feedsoft.ai/events/68863-opec-oil-output-rises-by-50-000-bpd-in-september-reuters-survey.md) | -1.6% | +1.7% |
| WTI | 2018-08-31 | [OPEC August oil output hits 2018 high despite Iran losses: Reuters survey \| Reuters](https://feedsoft.ai/events/63440-opec-august-oil-output-hits-2018-high-despite-iran-losses-reuters-survey-reuters.md) | -3.6% | +4.2% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/crude-oil/110722-opec-boosts-output-by-220000-bd-as-some-members-recoup-recent-losses-platts-survey

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