# OPEC+ sticks to planned output hikes despite surging oil prices | OPEC News | Al Jazeera

> OPEC+ agreed to keep its planned monthly output increase of 400,000 barrels per day despite surging oil prices and calls from the US and India to pump more. The group is struggling to meet existing targets and blamed high prices on under-investment in fossil fuels. Russia-US tensions over Ukraine were also cited as pushing prices higher.

- Date: 2022-02-02 · published 2022-02-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Geopolitical tension combined with constrained OPEC+ supply keeps crude prices elevated, raising energy and transport costs that flow into feed production. Continued pressure on oil supply could lift costs further if tensions escalate.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-05-05 | [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 | 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 | 2022-03-02 | [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 | 2022-03-30 | [OPEC+ sticks to modest oil output rises, ditches IEA data](https://feedsoft.ai/events/42174-opec-sticks-to-modest-oil-output-rises-ditches-iea-data.md) | -4.4% | -6.5% |
| WTI | 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) | -10.6% | -2.2% |
| 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 | 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) | -2.1% | -5.8% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2022/2/2/opec-sticks-to-planned-output-hikes-despite-surging-oil-prices

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