# OPEC+ ministerial talks on output increase by 400,000 barrels per day in March completed -  Business & Economy - TASS

> OPEC+ ministers held a very short meeting and reaffirmed a 400,000 barrels per day output increase for March 2022. The official communique stated the next meeting would be on March 2. Planned output for March totals about 41.3 million barrels per day across the group.

- Date: 2022-02-02 · published 2022-02-02T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/42632-opec-ministerial-talks-on-output-increase-by-400-000-barrels-per-day-in-march
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Confirmation of a small planned increase, with the group already short of targets, leaves crude supply tight and supports energy prices that feed into feed manufacturing and freight costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2016-12-27 | [Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal](https://feedsoft.ai/events/73637-venezuela-aims-to-cut-95-000-barrels-per-day-of-crude-output-in-opec-deal.md) | +1.3% | +1.0% |
| BRENT | 2018-12-07 | [OPEC gets Iran green light to cut oil output by 0.8 million barrels per day: source](https://feedsoft.ai/events/61455-opec-gets-iran-green-light-to-cut-oil-output-by-0-8-million-barrels-per-day.md) | +2.2% | -2.9% |
| BRENT | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +1.5% | -15.1% |
| BRENT | 2023-06-04 | [Opec+ cuts oil output to 40.46 million barrels per day  throughout 2024 \| Khaleej Times](https://feedsoft.ai/events/35399-opec-cuts-oil-output-to-40-46-million-barrels-per-day-throughout-2024-khaleej.md) | -1.7% | -1.8% |
| BRENT | 2016-11-30 | [OPEC reaches agreement to cut oil production to 32.5 million barrels a day: Oil ministers](https://feedsoft.ai/events/8568-opec-reaches-agreement-to-cut-oil-production-to-32-5-million-barrels-a-day-oil.md) | +16.7% | +22.1% |
| WTI | 2016-12-27 | [Venezuela Aims to Cut 95,000 Barrels Per Day of Crude Output in OPEC Deal](https://feedsoft.ai/events/73637-venezuela-aims-to-cut-95-000-barrels-per-day-of-crude-output-in-opec-deal.md) | +0.0% | -0.0% |
| WTI | 2018-12-07 | [OPEC gets Iran green light to cut oil output by 0.8 million barrels per day: source](https://feedsoft.ai/events/61455-opec-gets-iran-green-light-to-cut-oil-output-by-0-8-million-barrels-per-day.md) | +2.2% | -6.2% |
| WTI | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +0.5% | -17.6% |

## Sources

- tass.com: https://tass.com/economy/1396679

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