# Opec+ sticks to output rise plans for May as US announces release of record oil reserves | The National

> OPEC+ agreed to add 432,000 bpd in May and will meet again on May 5. The White House announced the largest-ever release from the US Strategic Petroleum Reserve, reported at about 1 million bpd over six months.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The record SPR release adds supply that offsets OPEC+'s modest increase, pressuring crude and diesel prices. Lower energy costs ease feed production and freight expenses.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-09-07 | [Opec+ agrees another rise in oil output for October \| The National](https://feedsoft.ai/events/22772-opec-agrees-another-rise-in-oil-output-for-october-the-national.md) | +1.3% | -1.1% |
| WTI | 2021-04-27 | [OPEC+ sticks to plan to ease oil output cuts from May 1 \| Reuters](https://feedsoft.ai/events/47504-opec-sticks-to-plan-to-ease-oil-output-cuts-from-may-1-reuters.md) | +4.0% | +6.6% |
| WTI | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -10.6% | -2.2% |
| WTI | 2025-11-01 | [Oil settles lower as OPEC plans to increase oil output](https://feedsoft.ai/events/22562-oil-settles-lower-as-opec-plans-to-increase-oil-output.md) | -2.0% | -3.4% |
| WTI | 2021-09-01 | [OPEC+ sticks to gradual oil output hikes, ups demand forecast](https://feedsoft.ai/events/44977-opec-sticks-to-gradual-oil-output-hikes-ups-demand-forecast.md) | +1.3% | +9.5% |
| BRENT | 2025-09-07 | [Opec+ agrees another rise in oil output for October \| The National](https://feedsoft.ai/events/22772-opec-agrees-another-rise-in-oil-output-for-october-the-national.md) | +3.4% | +0.2% |
| BRENT | 2021-04-27 | [OPEC+ sticks to plan to ease oil output cuts from May 1 \| Reuters](https://feedsoft.ai/events/47504-opec-sticks-to-plan-to-ease-oil-output-cuts-from-may-1-reuters.md) | +3.2% | +4.5% |
| BRENT | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -11.9% | -6.8% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/2022/03/31/opec-sticks-to-output-rise-plans-for-may-as-us-mulls-release-of-record-oil-reserves/

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