# OPEC+ boosts oil output by slower pace than previous months | AP News

> OPEC and its allies decided to raise September production by a much smaller amount than in previous months. The decision was made as gasoline prices were high and energy supplies were strained by Russia's war in Ukraine.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39948-opec-boosts-oil-output-by-slower-pace-than-previous-months-ap-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A small output increase leaves crude supply tight, which keeps energy-linked input costs high for feed producers. The price effect is limited because spare capacity is scarce.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-12-02 | [OPEC, allies stick to modest output boost despite omicron \| AP News](https://feedsoft.ai/events/43498-opec-allies-stick-to-modest-output-boost-despite-omicron-ap-news.md) | +9.7% | +14.1% |
| BRENT | 2022-08-03 | [Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg](https://feedsoft.ai/events/39947-oil-prices-opec-agrees-to-raise-production-next-month-at-much-slower-pace.md) | -3.4% | -4.0% |
| BRENT | 2019-08-11 | [Opec mulls further output cuts to support oil prices](https://feedsoft.ai/events/57508-opec-mulls-further-output-cuts-to-support-oil-prices.md) | +1.5% | +6.0% |
| BRENT | 2022-08-03 | [OPEC+ answers Biden’s diplomacy with tiny oil-output hike \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/39950-opec-answers-biden-s-diplomacy-with-tiny-oil-output-hike-opec-news-al-jazeera.md) | -3.4% | -4.0% |
| 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% |
| WTI | 2021-12-02 | [OPEC, allies stick to modest output boost despite omicron \| AP News](https://feedsoft.ai/events/43498-opec-allies-stick-to-modest-output-boost-despite-omicron-ap-news.md) | +10.6% | +17.4% |
| WTI | 2022-08-03 | [Oil Prices: OPEC+ Agrees to Raise Production Next Month at Much Slower Pace - Bloomberg](https://feedsoft.ai/events/39947-oil-prices-opec-agrees-to-raise-production-next-month-at-much-slower-pace.md) | -4.1% | -4.5% |
| WTI | 2023-04-02 | [Goldman Sachs raises Brent oil price forecasts after OPEC+ output cuts](https://feedsoft.ai/events/7952-goldman-sachs-raises-brent-oil-price-forecasts-after-opec-output-cuts.md) | +5.4% | -0.0% |

## Sources

- apnews.com: https://apnews.com/article/inflation-russia-ukraine-health-saudi-arabia-aa4ce431a7105ff94adb1f1a240657f0

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