# OPEC+ sticks to modest oil output rises, ditches IEA data

> OPEC+ agreed to add 430,000 bpd of output from May, sticking to its modest schedule despite consumer pressure. Brent crude fell about 6% toward $107 per barrel on the day.

- Date: 2022-03-30 · published 2022-03-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42174-opec-sticks-to-modest-oil-output-rises-ditches-iea-data
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Limited OPEC+ supply additions keep crude tight, supporting energy costs that feed into diesel, fertilizer and freight for feed producers. The IEA data dispute adds uncertainty about reported compliance and supply figures.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-05-05 | [Opec+ sticks to June output plan as oil prices continue to rise   \| The National](https://feedsoft.ai/events/41320-opec-sticks-to-june-output-plan-as-oil-prices-continue-to-rise-the-national.md) | -2.5% | +8.0% |
| BRENT | 2018-07-12 | [OPEC Output May Be Stretched to Limit by Supply Crises, IEA Says - Bloomberg](https://feedsoft.ai/events/63958-opec-output-may-be-stretched-to-limit-by-supply-crises-iea-says-bloomberg.md) | -3.6% | -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% |
| 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% |
| 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% |
| WTI | 2022-05-05 | [Opec+ sticks to June output plan as oil prices continue to rise   \| The National](https://feedsoft.ai/events/41320-opec-sticks-to-june-output-plan-as-oil-prices-continue-to-rise-the-national.md) | -2.1% | +8.4% |
| WTI | 2018-07-12 | [OPEC Output May Be Stretched to Limit by Supply Crises, IEA Says - Bloomberg](https://feedsoft.ai/events/63958-opec-output-may-be-stretched-to-limit-by-supply-crises-iea-says-bloomberg.md) | -2.4% | -5.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/opec-technical-committee-replaces-iea-with-wood-mackenzie-rystad-secondary-2022-03-30/

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