# OPEC+ answers Biden’s diplomacy with tiny oil-output hike | OPEC News | Al Jazeera

> OPEC+ agreed to divide a 100,000 barrel-per-day output increase among members, responding to pressure from US President Biden. Only Saudi Arabia and the UAE can realistically raise output, so little of the increase is likely to reach the market. Brent was little changed near $100.59 a barrel.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39950-opec-answers-biden-s-diplomacy-with-tiny-oil-output-hike-opec-news-al-jazeera
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Because most members lack spare capacity, the headline increase will not translate into meaningful extra supply. Energy costs stay elevated, keeping pressure on feed and fertilizer margins.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-01-04 | [Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike \| Reuters](https://feedsoft.ai/events/43062-oil-ends-up-at-80-bbl-as-opec-sticks-with-feb-output-hike-reuters.md) | +3.3% | +16.7% |
| BRENT | 2022-08-03 | [OPEC+ approves tiny oil output rise in rebuff to Biden - Markets - Business Recorder](https://feedsoft.ai/events/39954-opec-approves-tiny-oil-output-rise-in-rebuff-to-biden-markets-business-recorder.md) | -3.4% | -4.0% |
| BRENT | 2022-08-03 | [OPEC+ boosts oil output by slower pace than previous months \| AP News](https://feedsoft.ai/events/39948-opec-boosts-oil-output-by-slower-pace-than-previous-months-ap-news.md) | -3.4% | -4.0% |
| BRENT | 2025-10-07 | [Oil settles flat amid OPEC+ output hike, supply glut fears \| Reuters](https://feedsoft.ai/events/22308-oil-settles-flat-amid-opec-output-hike-supply-glut-fears-reuters.md) | -3.8% | -1.4% |
| BRENT | 2021-12-02 | [Oil prices: OPEC and Russia stick with plans to increase oil output in January \| CNN Business](https://feedsoft.ai/events/43502-oil-prices-opec-and-russia-stick-with-plans-to-increase-oil-output-in-january.md) | +9.7% | +14.1% |
| WTI | 2022-01-04 | [Oil ends up at $80/bbl as OPEC+ sticks with Feb output hike \| Reuters](https://feedsoft.ai/events/43062-oil-ends-up-at-80-bbl-as-opec-sticks-with-feb-output-hike-reuters.md) | +2.8% | +16.0% |
| WTI | 2022-08-03 | [OPEC+ approves tiny oil output rise in rebuff to Biden - Markets - Business Recorder](https://feedsoft.ai/events/39954-opec-approves-tiny-oil-output-rise-in-rebuff-to-biden-markets-business-recorder.md) | -4.1% | -4.5% |
| WTI | 2022-08-03 | [OPEC+ boosts oil output by slower pace than previous months \| AP News](https://feedsoft.ai/events/39948-opec-boosts-oil-output-by-slower-pace-than-previous-months-ap-news.md) | -4.1% | -4.5% |

## Sources

- aljazeera.com: https://www.aljazeera.com/news/2022/8/3/opec-answers-bidens-diplomacy-with-tiny-oil-output-hike

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