# OPEC+ Ratifies August Oil Production Increase, Leaving Next Move Unresolved - Bloomberg

> OPEC+ ratified its August production increase, returning the final tranche of output halted during the pandemic. Traders are focused on whether Saudi Arabia and the UAE will add supply beyond August.

- Date: 2022-06-30 · published 2022-06-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40835-opec-ratifies-august-oil-production-increase-leaving-next-move-unresolved
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The decision confirms the planned supply increase, but uncertainty about post-August output keeps crude prices volatile. Energy costs feed into feed transport and processing margins.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-10-31 | [OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg](https://feedsoft.ai/events/39056-opec-says-supply-surplus-was-main-reason-for-oil-production-cut-bloomberg.md) | +5.4% | -12.2% |
| WTI | 2023-11-30 | [OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg](https://feedsoft.ai/events/33085-opec-production-cuts-fail-to-convince-oil-traders-amid-lack-of-detail-bloomberg.md) | -11.0% | -7.4% |
| WTI | 2026-04-05 | [OPEC+ to increase oil production by 206,000 bpd in May -  Business & Economy - TASS](https://feedsoft.ai/events/19614-opec-to-increase-oil-production-by-206-000-bpd-in-may-business-and-economy-tass.md) | -13.2% | -7.5% |
| WTI | 2024-01-29 | [No changes to oil production policy expected at OPEC+ meeting](https://feedsoft.ai/events/32041-no-changes-to-oil-production-policy-expected-at-opec-meeting.md) | -7.3% | -0.1% |
| 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 | 2022-10-31 | [OPEC Says Supply Surplus Was Main Reason for Oil Production Cut - Bloomberg](https://feedsoft.ai/events/39056-opec-says-supply-surplus-was-main-reason-for-oil-production-cut-bloomberg.md) | +4.0% | -12.3% |
| BRENT | 2023-11-30 | [OPEC+ Production Cuts Fail to Convince Oil Traders Amid Lack of Detail - Bloomberg](https://feedsoft.ai/events/33085-opec-production-cuts-fail-to-convince-oil-traders-amid-lack-of-detail-bloomberg.md) | -10.5% | -5.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-06-30/opec-ratifies-august-supply-hike-leaving-next-move-unresolved

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