# Opec+ sticks to output plans for August amid tight supply and price volatility  | The National

> OPEC+ agreed to keep its August output plan of 648,000 bpd despite mounting recession fears and geopolitical tensions. The group will meet again on August 3 to review market conditions.

- Date: 2022-06-30 · published 2022-06-30T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Holding the planned increase signals supply remains tight, supporting crude prices even as demand worries grow. Energy costs stay elevated for feed producers.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-31 | [Opec to remain flexible even as it plans for possible output increase \| The National](https://feedsoft.ai/events/45730-opec-to-remain-flexible-even-as-it-plans-for-possible-output-increase-the.md) | -1.2% | +8.9% |
| WTI | 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) | -6.1% | -25.6% |
| WTI | 2026-06-07 | [OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices](https://feedsoft.ai/events/18723-opec-to-boost-oil-output-again-what-the-latest-production-hike-means-for-the.md) | -6.1% | -25.6% |
| 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 | 2022-05-05 | [OPEC+ sticks to modest oil output hike despite price rally](https://feedsoft.ai/events/41317-opec-sticks-to-modest-oil-output-hike-despite-price-rally.md) | -2.1% | +8.4% |
| BRENT | 2021-08-31 | [Opec to remain flexible even as it plans for possible output increase \| The National](https://feedsoft.ai/events/45730-opec-to-remain-flexible-even-as-it-plans-for-possible-output-increase-the.md) | -0.4% | +8.7% |
| 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% |
| BRENT | 2026-06-07 | [OPEC+ to Boost Oil Output Again: What the Latest Production Hike Means for the UAE and Global Prices](https://feedsoft.ai/events/18723-opec-to-boost-oil-output-again-what-the-latest-production-hike-means-for-the.md) | -7.5% | -26.2% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/06/30/opec-sticks-to-crude-output-plans-for-august-amid-tight-supply-and-price-volatility/

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