# OPEC+ approves tiny oil output rise in rebuff to Biden - Markets - Business Recorder

> OPEC+ approved a 100,000 barrel-per-day output increase for September, which analysts called an insult to US President Biden. The increase follows Biden's trip to Saudi Arabia to request more oil. The group had previously added 430,000 to 650,000 bpd monthly.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/39954-opec-approves-tiny-oil-output-rise-in-rebuff-to-biden-markets-business-recorder
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The small increase, combined with limited spare capacity, means supply stays tight and crude prices stay supported. Energy input costs for feed producers remain high.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-01-03 | [OPEC ready to adjust oil output increases: Barkindo - Markets - Business Recorder](https://feedsoft.ai/events/49056-opec-ready-to-adjust-oil-output-increases-barkindo-markets-business-recorder.md) | +8.2% | +7.9% |
| BRENT | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -10.5% | -5.2% |
| BRENT | 2026-10-28 | [Opec+ agrees in principle to keep oil output targets steady in December, sources say - The Business Times](https://feedsoft.ai/events/4126-opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-december-sources.md) | -4.7% | — |
| 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% |
| BRENT | 2022-11-30 | [OPEC+ decision to hold virtual meeting signals little likelihood of policy change - Markets - Business Recorder](https://feedsoft.ai/events/38585-opec-decision-to-hold-virtual-meeting-signals-little-likelihood-of-policy.md) | -4.2% | -0.8% |
| WTI | 2021-01-03 | [OPEC ready to adjust oil output increases: Barkindo - Markets - Business Recorder](https://feedsoft.ai/events/49056-opec-ready-to-adjust-oil-output-increases-barkindo-markets-business-recorder.md) | +7.8% | +10.6% |
| WTI | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -11.0% | -7.4% |
| WTI | 2026-10-28 | [Opec+ agrees in principle to keep oil output targets steady in December, sources say - The Business Times](https://feedsoft.ai/events/4126-opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-december-sources.md) | -2.1% | — |

## Sources

- brecorder.com: https://www.brecorder.com/news/40189864

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