# OPEC+ to increase output by 432,000 b/d in June | Oil & Gas Journal

> OPEC and participating non-OPEC producers will raise output by 432,000 b/d in June, following their May 5 videoconference ministerial meeting. OPEC cut its 2022 world oil demand growth forecast by 480,000 b/d, citing China's lockdown measures, and lowered its non-OPEC supply forecast by 600,000 b/d, partly on lower Russian supply.

- Date: 2022-05-06 · published 2022-05-06T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/41319-opec-to-increase-output-by-432-000-b-d-in-june-oil-and-gas-journal
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The demand downgrade and lower non-OPEC supply roughly offset the planned hike, leaving the balance tight. Tight crude supports fuel and feed freight costs.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 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) | -9.7% | -4.1% |
| 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 | 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 | 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 | 2026-04-06 | [OPEC+ countries agree to raise oil output by 206,000 bpd from May \| ZAWYA](https://feedsoft.ai/events/19609-opec-countries-agree-to-raise-oil-output-by-206-000-bpd-from-may-zawya.md) | -9.7% | -4.1% |
| 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 | 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) | +10.6% | +17.4% |
| 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% |

## Sources

- ogj.com: https://www.ogj.com/general-interest/economics-markets/article/14276091/opec-to-increase-output-by-432000-b-d-in-june

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