# Opec+ sticks to June output plan as oil prices continue to rise   | The National

> Oil prices steadied on May 5, with Brent settling at $110.90 and WTI at $108.26 per barrel. The EU proposed sanctions on Russia including a crude embargo and a ban on shipping and insurance for Russian oil, while a strong dollar, at its highest since 2002, weighed on prices.

- Date: 2022-05-05 · published 2022-05-05T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude high
- Page: https://feedsoft.ai/events/41320-opec-sticks-to-june-output-plan-as-oil-prices-continue-to-rise-the-national
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The EU embargo proposal could tighten crude supply in the summer, supporting prices, while a stronger dollar makes dollar-priced commodities costlier for non-US buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-09-07 | [Opec+ holds oil output steady as prices continue to rise amid Middle East escalation \| Upstream](https://feedsoft.ai/events/17384-opec-holds-oil-output-steady-as-prices-continue-to-rise-amid-middle-east.md) | +12.0% | +18.6% |
| BRENT | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +4.1% | +20.3% |
| BRENT | 2022-03-02 | [OPEC+ swerves Ukraine crisis and sticks to oil output plans](https://feedsoft.ai/events/42428-opec-swerves-ukraine-crisis-and-sticks-to-oil-output-plans.md) | +21.0% | +3.3% |
| BRENT | 2025-02-03 | [Opec sticks to production plan despite Trump pressure \| The National](https://feedsoft.ai/events/25951-opec-sticks-to-production-plan-despite-trump-pressure-the-national.md) | -2.9% | -3.9% |
| BRENT | 2022-03-31 | [Arab News \| OPEC+ sticks to current oil output plan despite consumers’ pressures](https://feedsoft.ai/events/42179-arab-news-opec-sticks-to-current-oil-output-plan-despite-consumers-pressures.md) | -11.9% | -6.8% |
| WTI | 2026-09-07 | [Opec+ holds oil output steady as prices continue to rise amid Middle East escalation \| Upstream](https://feedsoft.ai/events/17384-opec-holds-oil-output-steady-as-prices-continue-to-rise-amid-middle-east.md) | +9.3% | +3.6% |
| WTI | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +1.3% | +25.5% |
| WTI | 2022-03-02 | [OPEC+ swerves Ukraine crisis and sticks to oil output plans](https://feedsoft.ai/events/42428-opec-swerves-ukraine-crisis-and-sticks-to-oil-output-plans.md) | +19.4% | +0.6% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/05/05/opec-sticks-to-june-output-plan-as-oil-prices-rise-amid-eu-ban-on-russian-crude-imports/

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