# Opec+ agrees to boost September crude supply by 100,000 bpd amid shifting market dynamics | The National

> OPEC+ agreed to lift September crude supply by 100,000 barrels per day, far slower than the 648,000 bpd added for July and August. The group said it would meet again on September 5 and noted limited spare capacity. Brent had fallen below $100 a barrel on recession fears.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39951-opec-agrees-to-boost-september-crude-supply-by-100-000-bpd-amid-shifting-market
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Limited spare capacity means the group cannot quickly bring extra barrels to market, so crude prices remain sensitive to supply shocks. Higher energy costs continue to feed through to feed and fertilizer prices.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.1% | +4.6% |
| BRENT | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -11.8% | -8.8% |
| BRENT | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +3.3% | +16.7% |
| BRENT | 2018-05-31 | [Today.Az - OPEC supply rebalancing continues to be the primary](https://feedsoft.ai/events/64943-today-az-opec-supply-rebalancing-continues-to-be-the-primary.md) | -3.1% | +0.2% |
| BRENT | 2026-06-07 | [Opec+ agrees fourth monthly output rise despite Hormuz closure and price swings \| The National](https://feedsoft.ai/events/18718-opec-agrees-fourth-monthly-output-rise-despite-hormuz-closure-and-price-swings.md) | -7.5% | -26.2% |
| WTI | 2020-09-16 | [Opec+ set to review compliance amid heightened oil market fragility \| The National](https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national.md) | +3.3% | +4.7% |
| WTI | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -6.3% | -11.5% |
| WTI | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +2.8% | +16.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/08/03/opec-agrees-to-boost-september-crude-supply-by-100000-bpd-amid-shifting-market-dynamics/

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