# OPEC Raises Oil Production To Highest Level In Years

> OPEC raised its September crude output to 29.81 million bpd, the highest since 2020, but still undershot its quota. OPEC+ is discussing a November production cut of 500,000 to 1 million bpd ahead of its October 5 meeting.

- Date: 2022-10-01 · published 2022-10-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39753-opec-raises-oil-production-to-highest-level-in-years
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher OPEC output adds supply, but planned cuts for November would tighten the market and support energy costs. Feed buyers face mixed energy signals.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-12-05 | [OPEC+ members to delay oil production increases](https://feedsoft.ai/events/26872-opec-members-to-delay-oil-production-increases.md) | +0.6% | +4.3% |
| BRENT | 2024-02-01 | [OPEC+ leaves oil production levels unchanged, to review production cut extension in March](https://feedsoft.ai/events/31563-opec-leaves-oil-production-levels-unchanged-to-review-production-cut-extension.md) | -2.6% | +1.9% |
| BRENT | 2022-12-04 | [OPEC+ agrees to maintain oil production targets](https://feedsoft.ai/events/38140-opec-agrees-to-maintain-oil-production-targets.md) | -11.4% | -5.6% |
| BRENT | 2016-11-30 | [Oil price rises sharply as Opec members hint at deal to limit production](https://feedsoft.ai/events/8570-oil-price-rises-sharply-as-opec-members-hint-at-deal-to-limit-production.md) | +16.7% | +22.1% |
| BRENT | 2018-12-07 | [OPEC and allies agree to cut oil production](https://feedsoft.ai/events/10629-opec-and-allies-agree-to-cut-oil-production.md) | +2.2% | -2.9% |
| WTI | 2024-12-05 | [OPEC+ members to delay oil production increases](https://feedsoft.ai/events/26872-opec-members-to-delay-oil-production-increases.md) | +2.6% | +8.3% |
| WTI | 2024-02-01 | [OPEC+ leaves oil production levels unchanged, to review production cut extension in March](https://feedsoft.ai/events/31563-opec-leaves-oil-production-levels-unchanged-to-review-production-cut-extension.md) | -2.6% | +3.6% |
| WTI | 2022-12-04 | [OPEC+ agrees to maintain oil production targets](https://feedsoft.ai/events/38140-opec-agrees-to-maintain-oil-production-targets.md) | -11.1% | -3.8% |

## Sources

- oilprice.com: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Raises-Oil-Production-To-Highest-Level-In-Years.html

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