# OPEC+ oil boost likely not much help to high gasoline prices - Chattanooga Times Free Press

> OPEC and allied producers agreed to raise crude output by 648,000 barrels per day in August. The increase is expected to do little to relieve high gasoline prices or energy-driven inflation. The OPEC+ alliance has been unable to meet its announced production quotas.

- Date: 2022-07-01 · published 2022-07-01T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/40403-opec-oil-boost-likely-not-much-help-to-high-gasoline-prices-chattanooga-times
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A supply increase that producers cannot fully deliver gives limited relief to crude prices. Energy costs for feed milling, transport and fertilizer stay elevated.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -7.0% | -2.7% |
| WTI | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +35.6% | +50.4% |
| WTI | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -15.1% | -14.5% |
| WTI | 2025-03-31 | [OPEC+ is boosting output in April. Here's what that could mean for oil prices. - Tiger Brokers](https://feedsoft.ai/events/25753-opec-is-boosting-output-in-april-here-s-what-that-could-mean-for-oil-prices.md) | -10.5% | -9.7% |
| WTI | 2021-07-18 | [OPEC, allies agree to boost supply, gradually end oil production cuts](https://feedsoft.ai/events/45987-opec-allies-agree-to-boost-supply-gradually-end-oil-production-cuts.md) | +0.6% | -4.7% |
| BRENT | 2018-05-25 | [Russia and Opec agree to boost oil production – The Irish Times](https://feedsoft.ai/events/64939-russia-and-opec-agree-to-boost-oil-production-the-irish-times.md) | -3.5% | -5.4% |
| BRENT | 2026-03-01 | [OPEC Plus to Boost Oil Production as Iran Strikes Threaten Price Spike - The New York Times](https://feedsoft.ai/events/20080-opec-plus-to-boost-oil-production-as-iran-strikes-threaten-price-spike-the-new.md) | +31.0% | +62.6% |
| BRENT | 2025-04-01 | [OPEC+ likely to proceed with planned May oil output hike, sources say](https://feedsoft.ai/events/25487-opec-likely-to-proceed-with-planned-may-oil-output-hike-sources-say.md) | -14.2% | -15.6% |

## Sources

- timesfreepress.com: https://www.timesfreepress.com/news/2022/jun/30/opec-oil-boost-likely-not-much-help-high-gas/

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