# OPEC+ sticks to modest oil output boost despite price hike - CGTN

> OPEC+ announced it will stick to its schedule of modest monthly output increases, adding 432,000 bpd for May after the 27th ministerial meeting. The group said the slightly larger increase reflects adjusted baseline production levels agreed last July.

- Date: 2022-04-01 · published 2022-04-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/41751-opec-sticks-to-modest-oil-output-boost-despite-price-hike-cgtn
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The small increase does little to ease tight crude supply while Russia-Ukraine disruptions persist, supporting crude prices and the cost of oil-linked feed inputs like biofuel-driven soyoil and corn demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-04 | [OPEC+ sticks to plan for gradual oil output hike, price roars higher](https://feedsoft.ai/events/44442-opec-sticks-to-plan-for-gradual-oil-output-hike-price-roars-higher.md) | +4.6% | +9.9% |
| WTI | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +0.5% | -17.6% |
| WTI | 2021-11-01 | [Oil hits multi-year highs as OPEC+ sticks to output plan](https://feedsoft.ai/events/44446-oil-hits-multi-year-highs-as-opec-sticks-to-output-plan.md) | -2.7% | -16.3% |
| WTI | 2025-10-01 | [Oil settles up after OPEC+ opts for modest output hike](https://feedsoft.ai/events/22769-oil-settles-up-after-opec-opts-for-modest-output-hike.md) | -1.0% | -3.5% |
| WTI | 2023-10-04 | [Opec+ sticks to current output policy after oil price rally \| The National](https://feedsoft.ai/events/33522-opec-sticks-to-current-output-policy-after-oil-price-rally-the-national.md) | -3.7% | -8.8% |
| BRENT | 2021-10-04 | [OPEC+ sticks to plan for gradual oil output hike, price roars higher](https://feedsoft.ai/events/44442-opec-sticks-to-plan-for-gradual-oil-output-hike-price-roars-higher.md) | +3.7% | +5.5% |
| BRENT | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +1.5% | -15.1% |
| BRENT | 2021-11-01 | [Oil hits multi-year highs as OPEC+ sticks to output plan](https://feedsoft.ai/events/44446-oil-hits-multi-year-highs-as-opec-sticks-to-output-plan.md) | -1.4% | -13.4% |

## Sources

- newsaf.cgtn.com: https://newsaf.cgtn.com/news/2022-04-01/OPEC-sticks-to-modest-oil-output-boost-despite-price-hike-18RmqtAwaly/index.html

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