# Opec-Plus Not Seen Veering Off Course | Energy Intelligence

> Energy Intelligence expects OPEC+ to approve a 432,000 bpd increase for June at its May 5 meeting. It notes the group produced 1.45 million bpd below its collective target in March, with Russian output declines accelerating.

- Date: 2022-04-28 · published 2022-04-28T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/41755-opec-plus-not-seen-veering-off-course-energy-intelligence
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Persistent underproduction and Russian declines mean actual supply additions fall short of headline increases, supporting crude prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-08-21 | [Opec-Plus Laggards Agree to Extra Cuts \| Energy Intelligence](https://feedsoft.ai/events/51539-opec-plus-laggards-agree-to-extra-cuts-energy-intelligence.md) | +0.8% | -3.5% |
| WTI | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -9.5% | +9.1% |
| WTI | 2023-03-14 | [Q&A: Saudi Energy Minister Highlights Oil Market Risks \| Energy Intelligence](https://feedsoft.ai/events/36773-q-and-a-saudi-energy-minister-highlights-oil-market-risks-energy-intelligence.md) | -9.5% | +9.1% |
| WTI | 2024-02-28 | [OPEC+ Extends Oil Cuts Amid Global Supply Crunch - Energy News Africa Plus](https://feedsoft.ai/events/31861-opec-extends-oil-cuts-amid-global-supply-crunch-energy-news-africa-plus.md) | -0.9% | +3.3% |
| WTI | 2017-03-06 | [OPEC not entirely in compliance with production deal - UPI.com](https://feedsoft.ai/events/71902-opec-not-entirely-in-compliance-with-production-deal-upi-com.md) | -9.6% | -5.2% |
| BRENT | 2020-08-21 | [Opec-Plus Laggards Agree to Extra Cuts \| Energy Intelligence](https://feedsoft.ai/events/51539-opec-plus-laggards-agree-to-extra-cuts-energy-intelligence.md) | +0.5% | -4.3% |
| BRENT | 2023-03-14 | [OPEC+ to stick to production cut, Saudi minister tells Energy Intelligence](https://feedsoft.ai/events/36768-opec-to-stick-to-production-cut-saudi-minister-tells-energy-intelligence.md) | -8.9% | +7.8% |
| BRENT | 2018-06-05 | [Price Spike Fears Mount as IMO Sulfur Rule Nears \| Energy Intelligence](https://feedsoft.ai/events/64702-price-spike-fears-mount-as-imo-sulfur-rule-nears-energy-intelligence.md) | +1.6% | +3.6% |

## Sources

- energyintel.com: https://www.energyintel.com/00000180-6c57-d2e5-a1c1-eeff282a0000

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